The New Zealand dollar (NZD) is expected to operate in a range of 0.5670/0.5770 against the US dollar (USD). The NZD bounced two days ago and closed at 0.5701. In the long term, the current price movements are probably part of a range of 0.5640/0.5800, the FX analysts of UOB Group, to be Leang and Peter Chia.
The NZD is likely to operate in a range
24 -hour view: “At the beginning of yesterday’s Asian session, when the NZD was at 0.5705, we pointed out that ‘it could continue bouncing, but any advance is probably part of a range of 0.5670/0.5725.’ However, during the late New York session, the NZD reached a maximum of 0.5780, going back to 0.5745 (+0.77%).
View 1-3 weeks: “We review our opinion to negative last Wednesday (March 26, for 0.5730), indicating that the NZD ‘is probably sliding towards the main support zone between 0.5650 and 0.5670.’ After the NZD fell to 0.5649 and bouncing, we indicated yesterday (April 2, in 0.5705) that ‘If the NZD breaks above 0.5725 (level of’ strong resistance ‘), it would mean that the weakness in the NZD has stabilized. negotiation phase in rank, which is expected to be between 0.5640 and 0.5800. “
Source: Fx Street
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