25 Jun 2015
NZD/USD making a bottom? - UOB
FXStreet (Guatemala) - Analysts at UOB Group noted the technical conditions surrounding NZD/USD.
Key Quotes:
"The expected weakness in NZD did not reach our revised target of 0.6795 with a low of 0.6815."
"While further down move is not ruled out, waning downward momentum coupled with the strong rebound from the low suggests that a short-term low could be in place and the probability of a move to our target has diminished."
"Based on the current oversold conditions, a break above 0.6940 is enough to indicate that an interim low is in place."
Key Quotes:
"The expected weakness in NZD did not reach our revised target of 0.6795 with a low of 0.6815."
"While further down move is not ruled out, waning downward momentum coupled with the strong rebound from the low suggests that a short-term low could be in place and the probability of a move to our target has diminished."
"Based on the current oversold conditions, a break above 0.6940 is enough to indicate that an interim low is in place."