NZD/USD: Below 0.6589, look at 0.6544/00 and 0.6464/24 - Commerzbank
|Analysts at Commerzbank, point out that the NZD/USD is falling toward the January trough at 0.6589, and noted that below, the key support is seen at 0.6464/24.
Key Quotes:
“NZD/USD’s descent is ongoing with the .6589 January low about to be reached. Failure at the .6589 level on a daily chart closing basis would put the August and September lows at .6544/00 and also the October lows at .6464/24 on the cards.”
“Minor resistance comes in between the late January and February lows as well as the 200 day moving average at .6706/29. Further resistance can be found between the mid-April high at .6784 and the 55 day moving average at .6795. Key resistance remains to be seen at the December, February and March highs as well as the five month resistance line at .6929/70.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.