The NZD/USD pair maintains a “head & shoulders” top and analysts at Credit Suisse stay bearish for a test of the 200-day average at 0.6878. Key quotes “Although further short-term sideways trading is likely, with a large ‘head and shoulders’ top in place and daily MACD momentum still pointing lower, we look for a resumption of the downmove in due course.” “Support is initially seen at 0.6995, then 0.6972, ahead of the current year low at 0.6943. Removal of here would open the door to a fall back to the 200-day average, currently at 0.6878, where we would expect to see a more concerted pause. However, the “measured top objective” is seen much lower at 0.6731.” “Resistance moves to 0.7034 initially, ahead of 0.7073 and then the ‘neckline’ to the top at 0.7102, which ideally caps any potential reversal higher for now. Only above 0.7183/88 would question the top and expose 0.7269/73, ahead of 0.7307. We would ideally look for a cap here, if reached.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD set to resist dollar strength and push higher, buy opportunity? Yohay Elam 8 months The NZD/USD pair maintains a "head & shoulders" top and analysts at Credit Suisse stay bearish for a test of the 200-day average at 0.6878. Key quotes "Although further short-term sideways trading is likely, with a large 'head and shoulders' top in place and daily MACD momentum still pointing lower, we look for a resumption of the downmove in due course." "Support is initially seen at 0.6995, then 0.6972, ahead of the current year low at 0.6943. Removal of here would open the door to a fall back to the 200-day average, currently at 0.6878, where we would expect… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
