Forex Flash: NZD/USD looks bearish based on Technicals – Nomura
Forex pairs in this Article »
NZD/USD
FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen offers his outlook on NZDUSD from a purely technical perspective.
Amen starts by noting that spot is higher on the week but he has flipped his outlook to a bearish view. Looking at a daily chart he notes that spot has reached the 20MA and RSI (14) appears to be topping out, suggesting a short term top has been reached. He notes that Bollinger Bandwidth is very low and spot is likely to range from here, with a slight retracement lower on the cards. His weekly target is 0.8070.
Amen starts by noting that spot is higher on the week but he has flipped his outlook to a bearish view. Looking at a daily chart he notes that spot has reached the 20MA and RSI (14) appears to be topping out, suggesting a short term top has been reached. He notes that Bollinger Bandwidth is very low and spot is likely to range from here, with a slight retracement lower on the cards. His weekly target is 0.8070.
Free Annual Reports
