- Analytics
- News and Tools
- Market News
- NZD/USD: Clear break below 0.6231/6196 to open up 0.5919/5841 – Credit Suisse
NZD/USD: Clear break below 0.6231/6196 to open up 0.5919/5841 – Credit Suisse
NZD/USD has edged below key support at 0.6230/15. Although the breakdown is not convincing yet, analysts at Credit Suisse stay biased lower for a move to 0.5919.
Kiwi to suffer further downside
“We reiterate our tactically negative view, which is supported by the falling 55-day and 200-day moving averages, by daily MACD momentum crossing back lower from neutral territory, as well as by the strongly negative medium-term momentum. All this suggests a clear break below 0.6231/6196 is likely in due course, which would open up an eventual move to the next medium-term support at 0.5919/5841.”
“Near-term resistance moves to 0.6294, above which on the back of a close above 0.6231 would point to a concerning failure to break lower and likely trigger a recovery within the recent 0.6231/6196-0.6569/77 range.”
© 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
