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- NZD/USD: Further consolidation below 0.7315 and above key support at 0.7153/44 - Credit Suisse
NZD/USD: Further consolidation below 0.7315 and above key support at 0.7153/44 - Credit Suisse
FXStreet reports that economists at Credit Suisse apprise that the NZD/USD pair has important support at 0.7153/44, which ideally holds to keep the market in a new high-level range.
“NZD/USD saw a deeper setback towards support at the 0.7153/44 lows yesterday, which have held as expected. We look for the market to continue to hold above here to maintain a high-level range, prior to the core bull trend eventually resuming, with the core uptrend still very much intact and a very large ‘head and shoulders’ base still in place.”
“We see resistance initially at 0.7209, then 0.7281/86, ahead of a test of the April-2018 high at 0.7395, where we would expect to see fresh sellers at first to maintain the new range.”
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