NZD/USD: Next key resistance comes at 0.6315 – UOB – by pabspiovano NZDUSD Currencies Crosses Banks
needs to clear the 0.62754 level to allow for a potential move to 0.6315 in the near term, suggest UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: “We did not expect the strong rise in NZD to 0.6263 yesterday . Not surprisingly, the sharp and rapid rise is overbought. However, with no signs of weakness just yet, NZD could test the resistance at 0.6275. Today, the chance of a sustained rise above 0.6275 is not high. On the downside, a breach of 0.
Next 1-3 weeks: “Yesterday , we held the view that NZD ‘appears to have moved into a consolidation phase and it is likely to trade between 0.6085 and 0.6220’. We did not anticipate the strong surge to 0.6263. Upward momentum has improved, albeit not much. NZD has to break clearly above 0.6275 before a sustained advance is likely . The likelihood of NZD breaking clearly above 0.6275 will remain intact as long as NZD stays above 0.6145.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NZD/USD bulls ignore downbeat NZIER report near 0.6150, focus on New Zealand GDP, US inflationNZD/USD bulls ignore downbeat NZIER report near 0.6150, focus on New Zealand GDP, US inflation – by anilpanchal7 NZDUSD RiskAppetite GDP Fed Inflation
Read more »
NZD/USD to reach 0.66 in the second half of the year – INGThe Reserve Bank of New Zealand (RBNZ) could hike rates less than expected but the NZD/USD pair is still seen higher over the coming months, economist
Read more »
NZD/USD bulls are in the market ahead of US CPINZD/USD is higher at the start of the week, up some 1.65% at the time of writing after climbing from a low of 0.6134 and reaching a high of 0.6264 on
Read more »
NZD/USD Price Analysis: Fresh upside looks warranted above 0.6280 as hawkish Fed bets fadeThe NZD/USD pair has turned sideways around 0.6220 in the early Tokyo session after a corrective move from 0.6260. A resumption in the upside momentum
Read more »
NZD/USD drops to near 0.6200 as USD Index rebounds ahead of US InflationThe NZD/USD pair has extended its correction below 0.6220 in the Asian session. The Kiwi asset is expected to display sheer volatility ahead as invest
Read more »
NZD/USD Price Analysis: 100-EMA prods bearish eyeing 0.6130NZD/USD sticks to mild losses near 0.6210 during the first downbeat day in three heading into Tuesday’s European session. In doing so, the Kiwi pair s
Read more »