NAB FX Technical Strategy Research has shifted its NZD/USD outlook from definitively bearish to positive in the past two to three weeks.
“The 7.5% decline from the February high now looks to be complete after bullish weekly and likely monthly closes are produced. Fresh positive MT momentum bias helps to confirm the shift in directional bias,” NAB notes.
“Based on the bullish multi-week price pattern completed last week we target a further upswing to 0.7340/60 in the coming weeks,” NAB projects.
Source: NAB Research
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