The Kiwi dollar could depreciate to the 0.6320 region vs. the greenback in the near-term, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “We expected NZD to ‘move below last week’s 0.6378 low’ yesterday but were of the view ‘a sustained drop below this level appears unlikely’. NZD subsequently dipped to 0.6371 before recovering slightly. While downward momentum is patchy at best, the current weakness is not showing sign of stabilizing just yet. For today, there is room for NZD to edge downwards to 0.6365 first before a more sustained recovery can be expected. Resistance is at 0.6400 followed by 0.6420.” Next 1-3 weeks: “We highlighted yesterday (18 Feb, spot at 0.6440) that NZD ‘has likely moved into a consolidation phase’ and expected it ‘to trade between 0.6375 and 0.6485’. The subsequent sharp drop of -0.76% (NY close of 0.6386) came as a surprise. The downside risk has clearly increased but NZD has to register a NY closing below the solid 0.6375 support or the next level at 0.6325 may not come into the picture. All in, the current downward pressure would continue to increase unless NZD can move and stay above 0.6440 within these few days.” 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 levels to watch after the parabolic surge – Confluence Detector FX Street 2 years The Kiwi dollar could depreciate to the 0.6320 region vs. the greenback in the near-term, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “We expected NZD to ‘move below last week’s 0.6378 low’ yesterday but were of the view ‘a sustained drop below this level appears unlikely’. NZD subsequently dipped to 0.6371 before recovering slightly. While downward momentum is patchy at best, the current weakness is not showing sign of stabilizing just yet. For today, there is room for NZD to edge downwards to 0.6365 first before a more sustained recovery can be expected. Resistance is at 0.6400… 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.