11 Feb 2016
NZD/USD keeps the neutral stance near term – UOB
FXStreet (Edinburgh) - According to the research team at UOB Group, the Kiwi dollar remains on the neutral side vs. the greenback in the short-term.
Key Quotes
“Despite improving momentum, any up-move is expected to struggle near the 0.6740 high seen late last week. That said, only a move back below 0.6630 would indicate that the immediate upward pressure has eased”.
“Similar to AUD/USD, the recent rally in NZD was short-lived as the trailing stop-loss was quickly breached. The outlook is neutral from here and this pair will likely trade in a broad 0.6560/0.6800 for now”.
Key Quotes
“Despite improving momentum, any up-move is expected to struggle near the 0.6740 high seen late last week. That said, only a move back below 0.6630 would indicate that the immediate upward pressure has eased”.
“Similar to AUD/USD, the recent rally in NZD was short-lived as the trailing stop-loss was quickly breached. The outlook is neutral from here and this pair will likely trade in a broad 0.6560/0.6800 for now”.