NZD/USD: area 0,6268/0,6180 likely to limit growth in the short term — Credit Suisse

Credit Suisse discusses the technical Outlook for NZD/USD and see scope for the formation of a top and reversal in the field 0.6268/0.6180

«NZDUSD Rebound was limited above the key resistance zone starting from 0.6180 and stretching up to 0.6668 and we continue to believe that this area will limit the recovery. Indeed, given the large bear «triangle» — a continuation pattern — and the break of long term uptrend since 2001, and we expect that with time there will be another weakness. Support is at the level of 0.5922/06, and overcoming it will increase the risk of falling to the next support level .5851/44, and eventually the pair may return to the low of 0.5470″, — added in CS.

Information-analytical Department TeleTrade


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