Forex Flash: Bull speed ahead for NZD/USD´s technicals – Nomura
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NZD/USD
FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen has taken a look at NZDUSD from a purely technical perspective.
Looking at a daily chart, Amen note that spot is higher on the week and as such he has flipped to a bullish view. He notes that RSI (14) has not fallen, suggesting that a short term top has yet to be reached. Bollinger bandwidth remains lows and indicative that ranging behaviour remains likely and could test the upper part of the range. Amen also points out that spot failed to follow through on moves through the 55 MA lower. He sets his weekly target at 0.8280 where the upper Bollinger band sits.
Looking at a daily chart, Amen note that spot is higher on the week and as such he has flipped to a bullish view. He notes that RSI (14) has not fallen, suggesting that a short term top has yet to be reached. Bollinger bandwidth remains lows and indicative that ranging behaviour remains likely and could test the upper part of the range. Amen also points out that spot failed to follow through on moves through the 55 MA lower. He sets his weekly target at 0.8280 where the upper Bollinger band sits.
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