Market news
20.11.2020, 12:38

NZD/USD is back pressuring against 0.6942/45 - Credit Suisse

FXStreet reports that NZD/USD is back pressuring against the 0.6942/45 resistance and analysts at Credit Suisse look for a clear break in due course, with the next key level at 0.6970. 

“NZD/USD is making another attempt at the key 2019 and recent highs resistance at 0.6942/45. Although we might see another cap here again, with a major base in place, as well as the recently completed bull ‘triangle’, we stay biased higher and look for an eventual breakout.”

“Beyond 0.6945 would see the December 2018 high at 0.6970 next, where we would expect to see another pause. Removal of here in due course should subsequently see an acceleration of upside momentum, up to the June 2018 high at 0.7054/60 and eventually 0.7111/58.”

“First support is seen at 0.6905, then 0.6879/62, below which would trigger a correction back to the ‘neckline’ to the large base at 0.6811/6796."

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location