FX Strategists at UOB Group remain neutral on the Kiwi Dollar, adding that the pressure has now shifted to the downside. Key Quotes 24-hour view: “Expectation for sideway trading yesterday was wrong as NZD dropped sharply to a low of 0.6848. While downward momentum is not strong, the current soft patch in NZD could lead to a test of last week’s low near 0.6825. At this stage, a sustained break below this level is not expected. Resistance is at 0.6875 followed by 0.6900″. Next 1-3 weeks: “The relatively large decline of -0.66% in NZD yesterday came as a surprise. While there is no change to the current neutral outlook, the short-term pressure has shifted to the downside and last week’s low near 0.6825 appears to be vulnerable. That said, it is unclear at this stage whether any weakness in NZD can be sustained. Note that there are a couple of very strong supports below 0.6825, namely at the round-number level of 0.6800 and last year’s low of 0.6780. In view of the lackluster momentum, the prospect for a sustained move below these major support levels does not appear to be high. That said, NZD is expected to stay under pressure for now unless it can reclaim the ‘key resistance’ at 0.6920 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 AUD/USD struggles near YTD lows, below 0.7400 handle FX Street 5 years FX Strategists at UOB Group remain neutral on the Kiwi Dollar, adding that the pressure has now shifted to the downside. Key Quotes 24-hour view: "Expectation for sideway trading yesterday was wrong as NZD dropped sharply to a low of 0.6848. While downward momentum is not strong, the current soft patch in NZD could lead to a test of last week's low near 0.6825. At this stage, a sustained break below this level is not expected. Resistance is at 0.6875 followed by 0.6900". Next 1-3 weeks: "The relatively large decline of -0.66% in NZD yesterday came as a surprise. While… 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.