NZD/USD is now seen within 0.6400-0.6535 in the next weeks – UOB

Pablo Piovano FXStreet

In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, NZD/USD is expected to navigate between 0.6400 and 0.6535 range in the next few weeks.

Key Quotes

24-hour view: “NZD rose to a high of 0.6525 before easing off to close lower by 0.43% (0.6480). Upward pressure has eased and NZD appears to have entered a consolidation phase. In other words, NZD is likely to trade in a range today, expected to be between 0.6440 and 0.6510.”

Next 1-3 weeks: “We view the current movement in NZD as part of a consolidation phase and NZD is likely to trade between 0.6400 and 0.6535 for the time being.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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