NZD/USD now looks at 0.6180 – UOB – by pabspiovano NZDUSD Currencies Crosses Banks
en route to revisit the 0.6180 region in the near term according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: Yesterday, we held the view that NZD “is likely to trade in a range of 0.6090/0.6140”. However, NZD rose to a high of 0.6153, fell to 0.6107 and then settled at 0.6124 . There is no clear increase in upward momentum, and we continue to expect NZD to trade in a range, likely between 0.6090 and 0.6140.
Next 1-3 weeks: We stated yesterday that “the risk of NZD breaking above 0.6140 has increased”. We added, “the next resistance is at 0.6180”. NZD then broke above 0.6140 and rose to a high of 0.6153. While upward momentum has not improved much, there is a chance for NZD to rise further to 0.6180. On the downside, a breach of 0.6060 would indicate that NZD is not advancing further.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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