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28 Feb 2014
Flash: NZD/USD to extend to 0.8465? - UOB Group
FXStreet (Barcelona) - Market Strategists at UOB Group note that the break of strong NZD/USD trend-line resistant suggests extension towards 0.8465.
Key Quotes
“The rally yesterday took out the strong falling trend-line resistant which capped the NZD advance earlier this month at 0.8395.”
“The break of the trend-line coupled with improving upward momentum suggests further up-move in the coming week. The immediate target is at 0.8465 which is another strong falling trend-line resistant. The short-term key resistant to watch out for is last month’s peak at 0.8432.”
“Expect short-term pullback to hold above 0.8320 but only a break below 0.8280 will suggest that the bullish view is wrong. “
Key Quotes
“The rally yesterday took out the strong falling trend-line resistant which capped the NZD advance earlier this month at 0.8395.”
“The break of the trend-line coupled with improving upward momentum suggests further up-move in the coming week. The immediate target is at 0.8465 which is another strong falling trend-line resistant. The short-term key resistant to watch out for is last month’s peak at 0.8432.”
“Expect short-term pullback to hold above 0.8320 but only a break below 0.8280 will suggest that the bullish view is wrong. “