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Further consolidation seen in NZD/USD – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The research team at UOB Group sees the pair extending its rangebound pattern in the next weeks.

    Key Quotes

    “While the initial NZD strength held below 0.6870 as expected, the subsequent sharp drop from the high of 0.6864 was unexpected. The down-move appears to have room to extend lower but at this stage, a move below the major support zone of 0.6720/30 is unlikely. Stabilization is only upon a move back above 0.6815”.

    “There is not much to add as we continue to hold a neutral NZD view and expect this pair to trade in a broad 0.6720/0.6930 range”.
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