NZD/USD risks further downside near term – UOB – by pabspiovano NZDUSD Currencies Crosses Banks
faces a strong support at 0.6085.24-hour view: “Our view for NZD to edge lower did not materialize as it rebounded from a low of 0.6125 . Downward momentum has eased and NZD is likely to trade sideways. Expected range for today; 0.6135/0.6190.”
Next 1-3 weeks: “Yesterday , we indicated ‘While downward momentum has not increased much, NZD is likely to trade with a downward bias’. We added, ‘It remains to be seen if there is enough momentum for NZD to drop to the major support at 0.6085’. There is no change in our view for now. Only a break of 0.6200 would indicate the current downward bias in NZD has eased.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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