- Analytics
- News and Tools
- Market News
- NZD/USD is now seen within 0.6140-0.6280 – UOB
NZD/USD is now seen within 0.6140-0.6280 – UOB
In the view of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, NZD/USD is expected to navigate within the 0.6140-0.6280 range in the next few weeks.
Key Quotes
24-hour view: “We highlighted yesterday that ‘the decline lacks momentum and NZD is unlikely to weaken further’ and we expected NZD to trade sideways between 0.6185 and 0.6245. Our view of sideways trading was not wrong even though NZD traded in a narrower range than expected (0.6182/0.6217). The underlying tone appears to have firmed somewhat and today NZD is likely to edge higher. However, any advance is unlikely to break 0.6245. Support is at 0.6185, a break of 0.6160 would indicate that the current mild upward pressure has faded.”
Next 1-3 weeks: “We continue to hold the same view as yesterday (27 Mar, spot at 0.6205) wherein NZD is likely to consolidate and trade in a range of 0.6140/0.6280 for now.”
© 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
