NZD/USD: Likely to trade in a range between 0.5740 and 0.5825 – UOB Group
|NZD/USD is likely to trade in a range between 0.5740 and 0.5825, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
NZD is likely to trade in a range
24-HOUR VIEW: "We expected NZD to 'trade in a range between 0.5760 and 0.5800' yesterday. However, NZD traded within a tight range of 0.5770/0.5792. NZD closed slightly lower at 0.5771 (-0.22%). The softer underlying tone suggests NZD could drift lower toward 0.5760 today. The major support at 0.5740 is not expected to come into view. On the upside, resistance levels are at 0.5785 and 0.5795."
1-3 WEEKS VIEW: "We continue to hold the same view as yesterday (07 Jan, spot at 0.5780). As highlighted, NZD is likely to trade in a range, probably between 0.5740 and 0.5825."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.