- Analytics
- News and Tools
- Market News
- NZD/USD: Possible mean-reversion back higher – Credit Suisse
NZD/USD: Possible mean-reversion back higher – Credit Suisse
NZD/USD remains under pressure. Nonetheless, economists at Credit Suisse stay cautious of a possible mean-reversion back higher.
Break below 0.6385/68 to put further downward pressure
“NZD/USD has experienced a strong decline since the beginning of April, breaking the YTD low at 0.6528, which opens up the potential for further downside. Nonetheless, NZD/USD has had a tendency to not follow through on significant breakouts in the last 8 months and we, therefore, stay wary of a possible mean-reversion back higher.”
“From a shorter-term perspective, a break below the lows of mid-June 2021 at 0.6385/68 would put further downward pressure on the market and open the door to reach the 61.8% retracement of the 2020/21 uptrend at 0.6231 in due course.”
© 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
