- Analytics
- News and Tools
- Market News
- NZD/USD to suffer further losses a a break below 61.8% Fibo level of 0.6723 – ANZ
NZD/USD to suffer further losses a a break below 61.8% Fibo level of 0.6723 – ANZ
NZD/USD is now just above a key technical level. The kiwi could sustain a deep fall on a break below the 61.8% Fibonacci level of the January-April rally at 0.6723, economists at ANZ Bank report.
Fundamentally, it’s all a bit messy
“The USD usually does well into rate hikes, but starts to fade early on, but this time it’s maintaining its strength thanks to peculiarities including global geopolitics. Fundamentally then, it’s all a bit messy.”
“Technically, the NZD/USD is now at a key level (0.6723 being the 61.8% Fibo of the January-April rally). A sustained break below could see a deeper trough, but equally, if it holds, that’d likely form a short-term base. Complicated.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
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.
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.
Bank transfers
