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2 Jun 2015
NZD/USD: Headed for a temp low? - UOB
FXStreet (Guatemala) - Analysts at UOB Group explained that NZD/USD has not made a temporary low yet below key resistance.
Key Quotes:
"The current bearish phase is still clearly intact as NZD made a fresh year’s low of 0.7072 yesterday."
"However, severely oversold short-term indicators may slow the pace of any further decline and the next target at 0.7020 may not be seen so soon."
"Only a break above the current stop-loss at 0.7230 would indicate that a temporary low is in place."
Key Quotes:
"The current bearish phase is still clearly intact as NZD made a fresh year’s low of 0.7072 yesterday."
"However, severely oversold short-term indicators may slow the pace of any further decline and the next target at 0.7020 may not be seen so soon."
"Only a break above the current stop-loss at 0.7230 would indicate that a temporary low is in place."