According to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, NZD/USD could be now headed to the 0.6050 region in the short term.
24-hour view: “Our expectations for NZD to drop further did not materialize as it traded between 0.6086 and 0.6138 before closing largely unchanged at 0.6105 (-0.03%). Today, NZD could continue to trade in a range, expected to be between 0.6090 and 0.6140.”
Next 1-3 weeks: “There is no change in our view from yesterday (08 Mar, spot at 0.6110) that the recent NZD weakness has resumed. Overall, as long as NZD stays below 0.6180 (‘strong resistance’ level was at 0.6195 yesterday), it is likely to weaken to 0.6050.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.