- Analytics
- News and Tools
- Market News
- NZD/USD: Break below 0.6385/74 to open the door for a more sustained and quicker fall – Credit Suisse
NZD/USD: Break below 0.6385/74 to open the door for a more sustained and quicker fall – Credit Suisse
NZD/USD has broken the next major support at 0.6467. Analysts at Credit Suisse look for further weakness, with the next support at 0.6374, below which would open up 0.6231.
Immediate resistance is seen at the daily high at 0.6475
“With the RSI momentum still in an ‘oversold’ condition, we remain wary of a potential short-term corrective bounce higher, though we are biased for the 0.6385/74 level to eventually be removed.”
“Below 0.6385/74 would open the door for a more sustained and quicker downmove to the 61.8% retracement of the 2020/21 uptrend at 0.6231/30, which we would expect to serve as a more formidable challenge for any additional downside.”
“Immediate resistance is seen at the daily high at 0.6475 and next at 0.6543/48, with a move above the 13-day moving average at 0.6586/91 needed to relieve the immediate downside.”
© 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
