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- NZD/USD: Upside momentum resumes to test a key cluster of resistances at 0.6756/91 – Credit Suisse
NZD/USD: Upside momentum resumes to test a key cluster of resistances at 0.6756/91 – Credit Suisse
FXStreet reports that NZD/USD has recovered strongly from yesterday’s intraday setback, breaking above the key 0.6756 December high, per Credit Suisse.
“NZD/USD has recovered strongly from yesterday’s setback, breaking above the key 0.6756 December high and prodding also above the pivotal the July 2019 and January 2020 highs at 0.6789/91. Although we might not see a closing break here at the first attempt, our bias remains for a break higher in due course, which would complete a medium-term base to significantly reinforce our broader bullish outlook, with short-term resistance then seen subsequently at 0.6800/06 – a psychological barrier and 78.6% retracement of the December/March fall – where we would expect to see another initial attempt to hold. Beyond here would see trend resistance at 0.6836/37 next and higher over the medium term.”
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