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27 Mar 2015
AUD and NZD might strengthen – UOB Group
FXStreet (Barcelona) - Analysts at UOB Group note that AUD/USD consolidation might lead to the pair targeting 0.8020, while NZD/USD could strengthen as long as 0.7500 stays intact.
Key Quotes
“AUD/USD: The short-term consolidation phase appears incomplete and this pair is expected to trade in a choppy manner between 0.7760 and 0.7900 for another few days.”
“However, as long as 0.7720 is intact, we believe the current consolidation phase should eventually lead to a stronger AUD with a target of 0.8020.”
“NZD/USD: The deep pull-back from the high of 0.7698 two days ago has dented the short-term momentum but as long as the trailing stop-loss at 0.7500 is intact, further NZD strength is still expected in the coming days.”
“That said, 0.7698/0.7710 is a very strong resistance and a move to this level could be short-lived and may provoke a deeper pull-back.”
“On the downside, 0.7550 is a strong support ahead of 0.7500.”
Key Quotes
“AUD/USD: The short-term consolidation phase appears incomplete and this pair is expected to trade in a choppy manner between 0.7760 and 0.7900 for another few days.”
“However, as long as 0.7720 is intact, we believe the current consolidation phase should eventually lead to a stronger AUD with a target of 0.8020.”
“NZD/USD: The deep pull-back from the high of 0.7698 two days ago has dented the short-term momentum but as long as the trailing stop-loss at 0.7500 is intact, further NZD strength is still expected in the coming days.”
“That said, 0.7698/0.7710 is a very strong resistance and a move to this level could be short-lived and may provoke a deeper pull-back.”
“On the downside, 0.7550 is a strong support ahead of 0.7500.”