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16 May 2015
NZD/USD: Short term top in place - UOB
FXStreet (Guatemala) - Analysts at UOB Group noted the conditions surrounding NZD/USD.
Key Quotes:
"The sharp pull-back from the high of 0.7564 suggests that a temporary short-term top is in place."
"From a slightly longer term perspective, we continue to view the current movement as part of a broad consolidation phase which may last for several days."
"Key support is at 0.7390 while 0.7560/65 is acting as a very strong resistance now. Only a clear break of these levels would lead to a sustained mid-term move."
Key Quotes:
"The sharp pull-back from the high of 0.7564 suggests that a temporary short-term top is in place."
"From a slightly longer term perspective, we continue to view the current movement as part of a broad consolidation phase which may last for several days."
"Key support is at 0.7390 while 0.7560/65 is acting as a very strong resistance now. Only a clear break of these levels would lead to a sustained mid-term move."