NZD/USD: Likely to consolidate within a range of 0.5775/0.5810 – UOB Group

avatar
· 阅读量 25

New Zealand Dollar (NZD) is likely to consolidate within a range of 0.5775/0.5810. In the longer run, unless there is a meaningful decline soon, a break above 0.5815 would suggest NZD has moved into a range-trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Above 0.5815, NZD is set to move into a range-trading phase

24-HOUR VIEW: "Our view for NZD to 'consolidate between 0.5765 and 0.5790' yesterday was incorrect. Instead of consolidating, NZD rose to a high of 0.5808 before settling at 0.5795 (+0.27%). The modest rise did not result in a significant increase in upward momentum. Today, we continue to expect consolidation, most likely within a range of 0.5775/0.5810."

1-3 WEEKS VIEW: "We have held a negative stance on NZD since 19 Sep, when it was at 0.5890. In our most recent narrative from last Friday (26 Sep, spot at 0.5765), we highlighted that 'the outlook for NZD remains negative, and the next level to watch is 0.5730.' Yesterday, we indicated that 'while downward momentum is starting to slow, only a breach of 0.5815 (‘strong resistance’ level) would negate the current negative outlook.' NZD subsequently rose to 0.5808. Downward momentum has slowed further, and unless there is a meaningful decline soon, a break above 0.5815 would suggest that NZD has moved into a range-trading phase"

Share: Feed news

风险提示:本文所述仅代表作者个人观点,不代表 Followme 的官方立场。Followme 不对内容的准确性、完整性或可靠性作出任何保证,对于基于该内容所采取的任何行为,不承担任何责任,除非另有书面明确说明。

喜欢的话,赞赏支持一下
avatar
回复 0

加载失败()

  • tradingContest