NZD/USD: another leg towards 0.7595 cannot be ruled out yet – UOB Group

FXStreet (Barcelona) - Analysts at UOB Group, share the technical outlook for NZD/USD, noting that another move towards 0.7595 cannot be ruled out yet for the pair till the 0.7400 support stands.

Key Quotes

“While upward momentum is waning quickly, only a break below 0.7400 would indicate that the current bullish NZD phase has ended. Otherwise, another leg towards 0.7595 cannot be ruled out just yet.”

“That said, 0.7595 is a very strong resistance and at this stage, a sustained move above this level is not expected.”

“Support: 0.7450, 0.7400”

“Resistance: 0.7595, 0.7650”