NZD/USD: Can retest the 0.5865 level before a rebound is likely – UOB Group
The New Zealand Dollar (NZD) could retest the 0.5865 level before a rebound is likely; the strong support at 0.5850 is unlikely come under threat. In the longer run, provided that NZD remains above 0.5850, it could rise gradually to 0.5960, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
NZD can rise gradually to 0.5960
24-HOUR VIEW: “Our view for NZD to edge higher yesterday was incorrect, as it dropped to a low of 0.5864, closing at 0.5877 (-0.58%). There has been a slight increase in momentum. Today, NZD could retest the 0.5865 level before a rebound is likely. The strong support at 0.5850 is unlikely to come under threat. Resistance is at 0.5895, followed by 0.5910.”
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.