12 Feb 2016
NZD/USD seen within 0.6560/0.6800 near-term – UOB
The Kiwi dollar is poised to extend the 0.6560-0.6800 range vs. the greenback in the next weeks, said the research team at UOB Group.
Key Quotes
“NZD traded choppily by dropping sharply to a low of 0.6586 before swinging higher to current level. Upward momentum is improving but at this stage, even a move above last week’s peak at 0.6740 is expected to struggle near the next resistance at 0.6775. Support is at 0.6670 ahead of 0.6586 (which is acting as a very solid support now)”.
“There is no change to the neutral view and we continue to expect this to trade in a 0.6560/0.6800 for now”.
Key Quotes
“NZD traded choppily by dropping sharply to a low of 0.6586 before swinging higher to current level. Upward momentum is improving but at this stage, even a move above last week’s peak at 0.6740 is expected to struggle near the next resistance at 0.6775. Support is at 0.6670 ahead of 0.6586 (which is acting as a very solid support now)”.
“There is no change to the neutral view and we continue to expect this to trade in a 0.6560/0.6800 for now”.