NZD/USD: Bounce to persist towards 0.6260 and the 200 DMA at 0.6310/0.6340 – SocGen
|NZD/USD is climbing toward 0.6200. Economists at Société Générale expect the rebound to extend towards 0.6260 and the 200-day Simple Moving Average at 0.6310/0.6340.
Defending 0.6060/0.6040 is essential to avert a short-term pullback
“Daily MACD is within positive territory which denotes upward momentum is regaining.”
“The bounce is likely to persist towards 0.6260 and the 200 DMA at 0.6310/0.6340. It would be interesting to see if the pair can establish itself beyond this MA.”
“Defending the lower limit of recent consolidation at 0.6060/0.6040 is essential for averting a short-term pullback.”
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.