New Zealand Greenback (NZD) is more likely to commerce between 0.5940 and 0.6000. Within the longer run, upward momentum has light; NZD is more likely to commerce in a variety between 0.5900 and 0.6000 for now, UOB Group’s FX analysts Quek Ser Leang and Peter Chia be aware.
Upward momentum has light
24-HOUR VIEW: “Yesterday, we anticipated NZD to ‘commerce in a sideways vary of 0.5925/0.5975.’ Nonetheless, after testing the 0.5925 degree (low of 0.5926), NZD rose to 0.5990. We proceed to anticipate vary buying and selling, however given the slight enhance in upward momentum, NZD is more likely to commerce between 0.5940 and 0.6000.”
1-3 WEEKS VIEW: “We highlighted yesterday (29 Might, spot at 0.5950) that the current ‘upward momentum has light.’ We additionally highlighted that NZD ‘is more likely to commerce in a variety between 0.5900 and 0.6000 for now.’ Our view stays unchanged.”
