Following the recent price action, NZD/USD could now attempt to consolidate in the short-term horizon, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “Our view for NZD yesterday was it “could edge above 0.6375 but the next major resistance at 0.6410 is not expected to come into the picture”. NZD subsequently touched 0.6395 before staging a relatively sharp pull-back. Upward pressure has eased and for today, 0.6410 is still unlikely to come into the picture. From here, the pull-back in NZD could extend lower but any weakness is viewed as a lower 0.6345/0.6390 trading range (a sustained decline is not expected)”. Next 1-3 weeks: “There is not much to add to the update from Wednesday (04 Sep, spot at 0.6335) wherein NZD is “expected to trade sideways but is likely to test the top of the 0.6290/0.6410 range first”. While NZD rose to 0.6395 yesterday (05 Sep), overbought shorter-term conditions suggest 0.6410 could be out of reach for the next few days. Looking ahead, if NZD were to move clearly above 0.6410, it would suggest a stronger recovery to 0.6450, possibly 0.6500″. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY: rising bets for a test of 107.90 – UOB FX Street 4 years Following the recent price action, NZD/USD could now attempt to consolidate in the short-term horizon, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: "Our view for NZD yesterday was it "could edge above 0.6375 but the next major resistance at 0.6410 is not expected to come into the picture". NZD subsequently touched 0.6395 before staging a relatively sharp pull-back. Upward pressure has eased and for today, 0.6410 is still unlikely to come into the picture. From here, the pull-back in NZD could extend lower but any weakness is viewed as a lower 0.6345/0.6390 trading range (a sustained decline… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
