NZD/USD bullish, aims for 0.7360 – UOB

The research team at UOB Group keeps the bullish stance on NZD/USD, targeting 0.7325 in the near term.

Key Quotes

“NZD held above the strong 0.7200/05 support (low of 0.7207) before rocketing to levels not seen in more than a year (high of 0.7325). The strong advance appears to be running ahead of itself and even a move above the 0.7325 high is not expected to extend beyond 0.7360 (at least not for today)”.

“After dropping precariously close to the stop-loss at 0.7200 (low of 0.7207), NZD rallied strongly to make a fresh high of 0.7325. The outlook remains bullish and we continue to target a move to 0.7360”.