- Analytics
- News and Tools
- Market News
- NZD/USD: Upward momentum has largely faded – UOB Group
NZD/USD: Upward momentum has largely faded – UOB Group
New Zealand Dollar (NZD) is likely to trade sideways between 0.5560 and 0.5610. In the longer run, upward momentum has largely faded; NZD is expected to trade in a 0.5540/0.5650 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
NZD to trade in a 0.5540/0.5650 range
24-HOUR VIEW: "Our view for NZD to 'trade in a sideways range between 0.5580 and 0.5630' last Friday was incorrect, as it dropped to a low of 0.5564 before closing at 0.5585 (-0.41%). The decline did not result in a significant increase in momentum, and instead of continuing to decline, NZD is more likely to trade sideways between 0.5560 and 0.5610."
1-3 WEEKS VIEW: "While we noted 'a slight increase in momentum' last Thursday (15 Jan, spot at 0.5620), we pointed out that it 'must break and remain above 0.5650 before a move to 0.5695 is likely.' We added, 'the likelihood of NZD breaking clearly above 0.5650 will remain intact, provided that it remains above 0.5580 (‘strong support’ level).' Last Friday, NZD fell below 0.5580 (low has been 0.5564). Upward momentum has largely faded, and from here, we expect NZD to trade in a 0.5540/0.5650 range."
© 2000-2025. 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.
