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24 Jun 2013
Flash: NZD looks technically bearish - BNZ
FXstreet.com (Barcelona) - BNZ strategist Mike Jones has taken a technical look at NZD/USD and believes that the forecast is bearish ahead.
He notes that momentum is negative and should carry the currency lower once the current period of short covering has run its course. In terms of outlook for trade opportunities, he recommends that investors look to sell a rally. He sees short term resistance ahead at 0.7808 and 0.7845, with support below at 0.7720 and 0.7667.
He notes that momentum is negative and should carry the currency lower once the current period of short covering has run its course. In terms of outlook for trade opportunities, he recommends that investors look to sell a rally. He sees short term resistance ahead at 0.7808 and 0.7845, with support below at 0.7720 and 0.7667.