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NZDUSD Targets Further Strength On Correction

NZDUSD: With the pair reversing its Monday losses to close higher on Tuesday, NZDUSD targets further strength. This view is in line with its loss of downside momentum on the weekly chart the past week. Support lies at the 0.6500 level where a break will aim at the 0.6450 level. Further down, the 0.6400 level comes in as the next downside target. Its daily RSI is bullish and pointing higher suggesting more strength. Conversely, resistance resides at the 0.6600 level where a break will aim at the 0.6650 level. A break of here will have to occur to create scope for a run at the 0.6700 level. Further out, resistance stands at the 0.6750 level. All in all, having retained its recovery off the 0.6427 level, NZDUSD targets further strength on correction.

NZDUSD Targets Further Strength


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