6 May 2014
AUD/NZD: Increased risk for a retest of 1.0540/1.0493 - JPMorgan
FXStreet (Bali) - Niall O'Connor, FX Strategist at JP Morgan Securities, recommends long NZD against AUD.
Key Quotes
"AUD/NZD has reversed from the important range highs near 1.0950 while confirming a short term head and shoulders topping pattern below the 1.0770/35 support zone. In turn, we see an increased risk that the cross can see a retest of the range lows near 1.0540/1.0493."
Key Quotes
"AUD/NZD has reversed from the important range highs near 1.0950 while confirming a short term head and shoulders topping pattern below the 1.0770/35 support zone. In turn, we see an increased risk that the cross can see a retest of the range lows near 1.0540/1.0493."