NZD/USD upmove to end soon – Varengold

FXStreet (Barcelona) - The Varengold Bank Research Team gives the outlook and key technical levels for NZD/USD.

Key Quotes

“After touching the resistance line at 0.8821 in the middle of July, the NZD experienced a steep decline versus the USD untill the pair declined to the support level of 0.7202 which was strong enough and prevented the NZD from further losses.”

“Since then we saw mainly a upward movement slightly above the mentioned support level.”

“According to the indicators however, the mentioned upward movement may come to an end soon.”

“Support Levels around 0.7202”

“Resistance Levels around0.7523, 0.7973, 0.8821”