NZD/USD is expected to pick up extra steam in the near term and re-test the 0.6375 area, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “Instead of “trading sideways”, NZD dropped to 0.6281 before recovering. While upward momentum has not improved by much, the rebound has room to test the 0.6325 resistance. For today, last week’s peak near 0.6355 is not expected to come into the picture. On the downside, support is at 0.6285 followed by the strong level near 0.6270″. Next 1-3 weeks: “Despite the relatively sharp decline (NY close of 0.6300, -0.64%), our ‘strong support’ level at 0.6270 is still intact (low of 0.6281). For now, we are holding on to our view from yesterday (14 Oct, spot at 0.6330) wherein “there is scope for NZD to edge higher to 0.6375″. In order to reinvigorate the current flagging momentum, NZD has to move clear above 0.6355 within these few days or a break of 0.6270 would suggest the current upward pressure has eased”. 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 China wants US to remove tariffs to reach $50 billion imports of US farm goods – Bloomberg FX Street 4 years NZD/USD is expected to pick up extra steam in the near term and re-test the 0.6375 area, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: "Instead of "trading sideways", NZD dropped to 0.6281 before recovering. While upward momentum has not improved by much, the rebound has room to test the 0.6325 resistance. For today, last week's peak near 0.6355 is not expected to come into the picture. On the downside, support is at 0.6285 followed by the strong level near 0.6270". Next 1-3 weeks: "Despite the relatively sharp decline (NY close of 0.6300, -0.64%), our 'strong support' level… 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.
