The Research Team at Varengold Bank, views that NZD/USD has the scope to for a further upward movement in the future, with the pair continuing to decline since July and rebounding after making a new low at 0.7202.
Key Quotes
“After touching the resistance line at 0.8821 in the middle of July, the NZD experienced a steep decline versus the USD until the pair declined to the support level of 0.7675 which was strong enough and prevented the NZD from further losses.”
“Since then we saw mainly a sideward movement slightly above the mentioned support level until the pair depreciated further during the last trading sessions to reach a new low point at 0.7202 where it rebounded.”
“It seems that we may even see a future upward movement, at least according to the indicators.”
“Support Levels around: 0.7523”
“Resistance Levels around: 0.7523, 0.7973, 0.8821”
Key Quotes
“After touching the resistance line at 0.8821 in the middle of July, the NZD experienced a steep decline versus the USD until the pair declined to the support level of 0.7675 which was strong enough and prevented the NZD from further losses.”
“Since then we saw mainly a sideward movement slightly above the mentioned support level until the pair depreciated further during the last trading sessions to reach a new low point at 0.7202 where it rebounded.”
“It seems that we may even see a future upward movement, at least according to the indicators.”
“Support Levels around: 0.7523”
“Resistance Levels around: 0.7523, 0.7973, 0.8821”
