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21 Oct 2015
NZD/USD: top in place targeting 0.6620 - UOB
FXStreet (Guatemala) - Analysts at UOB Group are neutral sighting a short-term top in place in NZD/USD.
Key Quotes:
"Pull-back could extend lower to 0.6680, 0.6620. We have highlighted the increasing risk of a short-term top in the past few updates and the break below 0.6745 yesterday finally confirmed that.
The current movement is viewed as a corrective pull-back that has room to extend lower to 0.6680 where a break would shift the focus to last week’s low near 0.6620. Strong resistance is at 0.6795 ahead of the key level of 0.6855."
Key Quotes:
"Pull-back could extend lower to 0.6680, 0.6620. We have highlighted the increasing risk of a short-term top in the past few updates and the break below 0.6745 yesterday finally confirmed that.
The current movement is viewed as a corrective pull-back that has room to extend lower to 0.6680 where a break would shift the focus to last week’s low near 0.6620. Strong resistance is at 0.6795 ahead of the key level of 0.6855."