Strifor || NZDUSD-26/03/2024
Preferred direction: BUY
Comment: Within frameworks this week, we've been following the buy-priority on the main currencies that compete with the US dollar. It can be assumed that the long-term outlook will most likely be positive for the American currency, but the medium term will most likely take place within the framework of a downward correction for this currency. One of the most promising currency pairs for long, today, is NZDUSD. Here, as expected, the instrument is aimed at updating the local maximum at the level of 0.61000, in order to eliminate active market sellers who are increasing their positions in the market.
More likely scenario №1 says that the instrument will begin to grow as much as possible from current prices. Scenario №2 may be relevant against the backdrop of the publication of data that we are also expecting this week (data from the USA). On the way to this goal, buyers will have some problems at the level of 0.60713, which has previously demonstrated itself as support, and at the moment as resistance.
Longer-term prospects are unlikely to be bright for buyers of this currency pair, and growth today is expected to be no higher than 0.61490.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: Within frameworks this week, we've been following the buy-priority on the main currencies that compete with the US dollar. It can be assumed that the long-term outlook will most likely be positive for the American currency, but the medium term will most likely take place within the framework of a downward correction for this currency. One of the most promising currency pairs for long, today, is NZDUSD. Here, as expected, the instrument is aimed at updating the local maximum at the level of 0.61000, in order to eliminate active market sellers who are increasing their positions in the market.
More likely scenario №1 says that the instrument will begin to grow as much as possible from current prices. Scenario №2 may be relevant against the backdrop of the publication of data that we are also expecting this week (data from the USA). On the way to this goal, buyers will have some problems at the level of 0.60713, which has previously demonstrated itself as support, and at the moment as resistance.
Longer-term prospects are unlikely to be bright for buyers of this currency pair, and growth today is expected to be no higher than 0.61490.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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