NZD/USD outlook shifted to neutral short-term – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In opinion of the research team at UOB Group, the pair’s stance is now neutral for the next 1-3 weeks.

    Key Quotes

    “The move above the key 0.6750 resistance late last week was clearly a false break as we witnessed a sharp reversal from a high of 0.6775”.

    “The expectation for further NZD strength was clearly wrong and from here, the outlook is viewed as neutral”.

    “However, short-term downward momentum is improving but at this stage, any further weakness is likely limited to 0.6500”.
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