-
NZD/USD, AUD/USD: 'Pleading The Fifth' (Wave): Levels & Targets - ANZ
Attempts to pick peaks in early April failed, but NZD and AUD still appear to be completing (forming final fifth waves) their up-trends which began in early 2014, says Australia and New Zealand Banking Group (ANZ). "Both are at risk of forming deep corrections, possibly full retracements, of their outperformance during the past quarter. Although a turn in trend is yet to be confirmed, the balance of technical risks is turning against maintaining of long NZD and AUD positions," ANZ projects. "Tactical shorts to be established on a confirmed break of trend," ANZ advises. In NZD/USD, ANZ thinks that the current uptrend ... (full story)