- Analytics
- News and Tools
- Market News
- NZD/USD now looks to 0.6700 and above – UOB
NZD/USD now looks to 0.6700 and above – UOB
FXStreet reports that extra gains lie ahead for NZD/USD on a breakout of the 0.67 mark, suggested FX Strategists at UOB Group.
24-hour view: “Our view for NZD yesterday was that it ‘could edge above 0.6675 but the major resistance at 0.6700 is unlikely to come under threat’. NZD subsequently rose to a high of 0.6692 before closing on a strong note at 0.6684 (+0.65%). Upward momentum has improved and from here, NZD could crack 0.6700 but the next major resistance at 0.6755 is likely out of reach. Support is at 0.6660 followed by 0.6630.”
Next 1-3 weeks: “We have held the same view since last Wednesday (22 Jul, spot at 0.6640) wherein the ‘break-out of consolidation range has room to run further to 0.6700’. NZD rose to a high of 0.6692 yesterday (27 Jul) before closing on a strong note (0.6684, +0.65%). From here, a break of 0.6700 would not be surprising and would shift the focus to the next major resistance at 0.6755. Only a break of 0.6600 (‘strong support’ level previously at 0.6580) would indicate that the current upward pressure has eased.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
