NZD/USD is expected to trade in a consolidative theme between 0.7160 and 0.7320 in the next weeks, noted UOB Group’s FX Strategists. Key Quotes 24-hour view: “Our expectation for NZD to ‘trade at a higher range of 0.7200/0.7255’ was incorrect as it dropped to an overnight low of 0.7167 (high has been 0.7239). The decline appears to be running ahead of itself and NZD is unlikely to weaken further. For today, NZD is likely to trade sideways between 0.7160 and 0.7220.” Next 1-3 weeks: “We highlighted yesterday (13 Jan, spot at 0.7225) that ‘downward pressure has more or less dissipated’ and we expected NZD to ‘trade between 0.7160 and 0.7320 for a period of time’. The rapid manner by which NZD approaches the bottom of the range came as a surprise (overnight low of 0.7167). While there is no change in our view for now, a daily closing below 0.7160 would indicate that NZD could move lower to 0.7130, possibly as low as 0.7080. At this stage, the prospect for such a scenario is not high.” 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 Natural Gas Futures: Further gains not ruled out FX Street 2 years NZD/USD is expected to trade in a consolidative theme between 0.7160 and 0.7320 in the next weeks, noted UOB Group’s FX Strategists. Key Quotes 24-hour view: “Our expectation for NZD to ‘trade at a higher range of 0.7200/0.7255’ was incorrect as it dropped to an overnight low of 0.7167 (high has been 0.7239). The decline appears to be running ahead of itself and NZD is unlikely to weaken further. For today, NZD is likely to trade sideways between 0.7160 and 0.7220.” Next 1-3 weeks: “We highlighted yesterday (13 Jan, spot at 0.7225) that ‘downward pressure has more or less dissipated’… 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.
