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- NZD/USD: A weekly close above 0.6070/90 will confirm a bullish multi-week bias - NAB
NZD/USD: A weekly close above 0.6070/90 will confirm a bullish multi-week bias - NAB
eFXdata reports that NAB Research discusses NZD/USD technical outlook and expects a test of 0.6180/6205 in the coming one to two weeks.
"The Base of the 2018/2019 downtrend channel at 0.6070/90 is giving way to the recent multi-week uptrend. A weekly close above 0.6070/90 will confirm a bullish multi-week bias. Range lows, prior to the aggressive March decline at 0.6180/6205 are an obvious next resistance level. Only a break above 0.6205 would target a retest of the key 2019/2020 pivot at 0.6450/80," NAB notes.
"We anticipate a further incremental rise in price and test of 0.6180/6205 in the coming one to two weeks," NAB adds.
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