17 Mar 2015
Outlook for AUD/USD and NZD/USD – UOB
FXStreet (Barcelona) - Analysts at UOB Group give the outlook for AUD/USD and NZD/USD, with both the pairs seen consolidating.
Key Quotes
“AUD/USD: While the longer-term outlook for AUD is still bearish, the current movement is clearly a consolidation phase which may last for another week or so. Only a break out of the expected 0.7550/0.7750 range would indicate the start of a more sustained mid-term move.”
“NZD/USD: Similar to AUD, NZD is also in a consolidation phase. Expect range trading for now, likely between 0.7250 and 0.7450.”
“Looking further ahead, the downside appears to be more vulnerable but even break below 0.7250 will likely encounter very strong support at the recent lows near 0.7177/90.”
Key Quotes
“AUD/USD: While the longer-term outlook for AUD is still bearish, the current movement is clearly a consolidation phase which may last for another week or so. Only a break out of the expected 0.7550/0.7750 range would indicate the start of a more sustained mid-term move.”
“NZD/USD: Similar to AUD, NZD is also in a consolidation phase. Expect range trading for now, likely between 0.7250 and 0.7450.”
“Looking further ahead, the downside appears to be more vulnerable but even break below 0.7250 will likely encounter very strong support at the recent lows near 0.7177/90.”