NZD/USD: Further strength seems in the pipeline – UOB – by pabspiovano NZDUSD Currencies Crosses Banks
24-hour view: “Yesterday, we expected further NZD strength towards 0.6310. However, NZD traded between 0.6230 and 0.6290. NZD is likely to consolidate today, expected to be between 0.6210 and 0.6270.”
Next 1-3 weeks: “Our update from yesterday is still valid. As highlighted, after the strong rise on last Friday, upward momentum has increased. The increase in momentum is likely to lead to further NZD strength to 0.6310, possibly 0.6360. That said, overbought short-term conditions could lead to a couple of days of consolidation first. Overall, only a breach of 0.6185 would indicate that NZD is not ready to head higher.
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