In light of the recent price action, NZD/USD is now posed for some consolidation, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “Expectation for NZD to trade sideways was incorrect as it dropped to 0.6241 before rebounding strongly. Downward pressure has dissipated and the 0.6241 low is not expected to come into the picture for today. That said, a sustained rise in NZD is not expected as it is more likely to consolidate and trade sideways, likely between 0.6260 and 0.6305″. Next 1-3 weeks: “Our expectation for NZD to “edge higher to 0.6375″ from Monday (14 Oct, spot at 0.6330) was incorrect as NZD dropped below the strong 0.6270 support yesterday (low of 0.6259). The current price action is viewed as part of an on-going sideway-trading phase and NZD could trade in an ‘undecided’ manner and within a 0.6235/0.6355 range for a period”. 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 EUR/USD moves to monthly peaks near 1.1140 post-Brexit deal FX Street 4 years In light of the recent price action, NZD/USD is now posed for some consolidation, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: "Expectation for NZD to trade sideways was incorrect as it dropped to 0.6241 before rebounding strongly. Downward pressure has dissipated and the 0.6241 low is not expected to come into the picture for today. That said, a sustained rise in NZD is not expected as it is more likely to consolidate and trade sideways, likely between 0.6260 and 0.6305". Next 1-3 weeks: "Our expectation for NZD to "edge higher to 0.6375" from Monday (14 Oct, spot… 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.
