Forex Flash: NZD Technicals look bullish ahead – BNZ
Forex pairs in this Article »
NZD/USD
FXstreet.com (Barcelona) - Mike Jones, Strategist at BNZ has taken a look at NZDUSD and NZD/AUD from a purely technical perspective.
Starting with NZDUSD, Jones recommends that investors should look to buy dips and sees support and resistance at 0.8360/0.8290 and 0.8471/0.8570. He notes that the daily RSI is in "overbought" territory, but momentum is positive and the up rend does not yet look exhaustive. Looking to NZD/AUD, Jones again recommends buying on dips and sees support and resistance at 0.7880/0.7830 and 0.8015/0.8060, noting that there is only weak resistance ahead of 0.8060 and near term dips should be limited to 0.7980.
Starting with NZDUSD, Jones recommends that investors should look to buy dips and sees support and resistance at 0.8360/0.8290 and 0.8471/0.8570. He notes that the daily RSI is in "overbought" territory, but momentum is positive and the up rend does not yet look exhaustive. Looking to NZD/AUD, Jones again recommends buying on dips and sees support and resistance at 0.7880/0.7830 and 0.8015/0.8060, noting that there is only weak resistance ahead of 0.8060 and near term dips should be limited to 0.7980.
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