FXstreet.com (Barcelona) - Currently heading back up towards 0.8077 (July high) and a major band of resistance able to act in July and possibly August, the NZD/USD is expected to fail there and drop through the 55-day MA at 0.7806 within the next few weeks: “Such a decline will confirm that another intermediate top has been formed with the 0.7469/0.7371 support zone, made up of the October, November and December lows, then being targeted over the summer months”, wrote Axel Rudolph, pointing to a medium term bearish outlook while the NAZD(USD stays below its April peak at 0.8319.
Forex Flash: NZD/USD medium term bearish while below 0.8319 - Commerzbank
Wed, Jul 18 2012, 08:45 GMT | FXstreet.com
NZD/USD May 24 at 21:07 GMT
0.8092/94 (-0.02%)
H0.8098 L 0.8093
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Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
