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- NZD/USD: Scope for a climb to the 0.7317/24 zone - Credit Suisse
NZD/USD: Scope for a climb to the 0.7317/24 zone - Credit Suisse
FXStreet reports that economists at Credit Suisse look for a close above key downtrend resistance at 0.7141 next to open up 0.7317/24.
“Our bullish view is based on our assessment that the recent breakout above 0.7090/69 confirmed a large basing structure and an important range breakout. Furthermore, short-term momentum continues to accelerate higher.”
“Next resistance above the downtrend from the 2021 highs at 0.7141/71 is seen at the 61.8% retracement of the 2021 fall at 0.7211/15, with scope for an eventual move to 0.7317/24.”
“Support stays at the aforementioned 0.7090/69, where we recently turned tactically bullish.”
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