- Analytics
- News and Tools
- Market News
- NZD/USD: Further range bound trade seems on the cards – UOB
NZD/USD: Further range bound trade seems on the cards – UOB
NZD/USD could now trade between 0.6125 and 0.6260 in the next weeks, suggest FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.
Key Quotes
24-hour view: “We highlighted yesterday that ‘momentum indicators are flattish’ and we expected NZD to ‘consolidate and trade within a range of 0.6160/0.6220’. Our view was for consolidation was correct even though NZD traded within a slightly narrower range than expected (0.6164/0.6219). The relatively quiet price actions suggest further consolidation would not be surprising. Expected range for today, 0.6160/0.6220.”
Next 1-3 weeks: “Our update from yesterday (24 Aug, spot at 0.6195) still stands. As highlighted, NZD is unlikely to weaken further. From her, NZD could trade between 0.6125 and 0.6260 for a period of time.”
© 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
