The New Zealand dollar (NZD) will probably be negotiated in a range of 0.5500/0.5600 against the US dollar (USD). In the long term, it is too early to wait for the weakness to stabilize, but it remains to be seen if the NZD can fall to the next support at 0.5450, the FX analysts of UOB Group point out, to be Leang and Peter Chia.
The NZD can fall to the next support at 0.5450
24 -hour view: “While the NZD continues to fall after the disproportionate fall of last Friday, the downward impulse seems to have decreased slightly. This, combined with overall conditions, suggests that the NZD is more likely to be negotiated in a range of 0.5500/0.5600 today instead of falling more.”
View 1-3 weeks: “After the NZD f hasmed a maximum of 0.5852, in our last update last Friday (April 4, torque at 0.5785), we point out that ‘For an additional sustained increase, the NZD must close above 0.5850.’ However, the NZD did not go up more.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
