- Analytics
- News and Tools
- Market News
- NZD/USD: Bulls set to test 0.6080 – UOB Group
NZD/USD: Bulls set to test 0.6080 – UOB Group
The New Zealand Dollar (NZD) strength from early this month has ended; it is likely to trade between 0.5935 and 0.6080 for the time being, UOB Group Quek Ser Leang and Lee Sue Ann note.
NZD may try to breach the 0.6080 resistance
24-HOUR VIEW: “NZD plummeted two days ago. Yesterday, we indicated that ‘while oversold, there is room for NZD to decline to 0.5975 before stabilisation is likely.’ We added, ‘the next support at 0.5935 is not expected to come into view.’ NZD then dropped to 0.5975, closing at 0.5985 (- 0.19%). While the weakness has not quite stabilised, slowing momentum suggests NZD is unlikely to weaken much further. Today, we expect NZD to trade in a range, likely between 0.5975 and 0.6015.”
1-3 WEEKS VIEW: “Our update from yesterday (15 Aug, spot at 0.6000) still stands. As indicated, the NZD strength from early this month has ended. For the time being, NZD is likely to trade in a range, probably between 0.5935 and 0.6080.”
© 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
