NZD/USD: Stronger rally sounds highly likely in the coming days - Natixis

Micaella Feldstein, Research Analyst at Natixis, suggests that since the daily indicators have turned around and as the weekly stochastic is picking up, a stronger NZD/USD rally sounds highly likely in the coming days.

Key Quotes

“A break of the 0.7193-0.72 barriers (weekly Bollinger moving average) would add weight to this bullish view, providing fresh bullish momentum to 0.7290 (61.8% Fibonacci retracement of the 0.7490-0.6969 downside wave) and to 0.7357-0.7367 (weekly Bollinger upper band) even 0.7390 (weekly parabolic). The supports are at 0.7156, at 0.7091, at 0.7045-0.7060, at 0.6993-0.7010 and at 0.6955.”