NZD/USD: Extra losses likely below 0.6200 – UOB By pabspiovano NZDUSD NewZealand Currencies Crosses Banks
24-hour view: “Yesterday, we indicated that ‘rapid build-up in downward momentum is likely to lead to further NZD weakness but expect solid support at 0.6200’. Our view was not wrong as NZD dropped to 0.6207 before rebounding slightly. While downward momentum has waned somewhat, NZD could dip below 0.6200. The next support at 0.6170 is unlikely to come under threat. Resistance is at 0.6240 but only a break of 0.6260 would indicate that the current downward pressure has eased.
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