In opinion of FX Strategists at UOB Group, NZD/USD could shed further ground and shift the attention to sub-0.7100 levels in the near-term. Key Quotes 24-hour view: “We highlighted yesterday that ‘there is scope for NZD to move to 0.7165’. The subsequent weakness in NZD exceeded our expectation as NZD dropped to 0.7148 before closing on a weak note at 0.7160 (-1.09%). While the rapid decline appears to be running ahead of itself, NZD could test 0.7130 first before the current weakness should stabilize. Resistance is at 0.7180 followed by 0.7205.” Next 1-3 weeks: “We highlighted last yesterday (11 Jan, spot at 0.7200) that the recent positive phase has ended and the near-term bias is on the downside. We added, ‘any weakness is viewed as part of a 0.7130/0.7270 range’. While there is no change in our view, we did not quite expect the sharp drop of -1.09% (NY close of 0.7160). Downward momentum has improved and would continue to improve as long as 0.7250 is not taken out. Looking ahead, a clear break of 0.7130 would shift the focus to 0.7080.” 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 ECB’s Schnabel: Inflation not dead, seen higher in 2021 FX Street 1 year In opinion of FX Strategists at UOB Group, NZD/USD could shed further ground and shift the attention to sub-0.7100 levels in the near-term. Key Quotes 24-hour view: “We highlighted yesterday that ‘there is scope for NZD to move to 0.7165’. The subsequent weakness in NZD exceeded our expectation as NZD dropped to 0.7148 before closing on a weak note at 0.7160 (-1.09%). While the rapid decline appears to be running ahead of itself, NZD could test 0.7130 first before the current weakness should stabilize. Resistance is at 0.7180 followed by 0.7205.” Next 1-3 weeks: “We highlighted last yesterday (11 Jan,… 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.