Morgan Stanley - It is time to buy NZD

02.07.2019 / 04:21

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Brief comments on the NZD by the bank

It's time to buy NZD

With the start of the new round of trade talks between the US and China, China has no reason to further weaken RMB. NZD trades best when RMB is strong.

Therefore, the EUR / NZD has a great chance of breaking through 200 MAs

Daily chart view:

Upward trend, correction up to 200 MA, diagonal support. The price stays at levels of support and 38.2 Fibonacci.

A breakthrough in this zone will push the pair down sharply, followed by a 50% test of the upward trend.

Trader Aleksandar Kumanov

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Morgan Stanley - It is time to buy NZD

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