The New Zealand dollar (NZD) will probably be negotiated in a range of 0.5900/0.5950 against the US dollar (USD). In the long term, the perspectives are still mixed, but the NZD is likely to be negotiated in a more tight range of 0.5835/0.5985, the FX analysts of UOB Group point out, to be Leang and Peter Chia.
The perspectives for the NZD are still mixed
24 -hour vision: “In the first Asian session yesterday, we point out that ‘there has been an tentative accumulation of bullish impulse.’ We expected the NZD ‘to rise slightly and try 0.5920.’ We highlight that ‘the main resistance at 0.5985 is unlikely to be reached.’ We were not wrong, although the NZD rose more than expected to 0.5932.
Vision 1-3 weeks: “Last Wednesday (May 14, price at 0.5935), we highlight that ‘recent price movements have resulted in a mixed perspective’, and we expected the NZD ‘to be negotiated in a range of 0.5835/0.6030.’ Yesterday (May 19, quotation in 0.5890), we indicate that ‘the perspectives are still mixed, but now we expect a more adjusted range of 0.5835/0.5985.’ We continue to maintain the same opinion. “
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.
