There is room for the New Zealand dollar (NZD) to exceed 0.6075 against the US dollar (USD); The main resistance at 0.6090 seems to be out of reach. In the long term, the NZD is likely to test the 0.6090 level; It is too early to determine if you can break clearly above this level, FX analysts point out UOB GroupTo be Leang and Peter Chia.
The main resistance at 0.6090 still seems to be out of reach
24 -hour vision: “The NZD closed at 0.6036 two days ago. Yesterday, it rose sharply in the first Asian session, and we pointed out that ‘an additional advance seems likely, but based on the current impulse, the main resistance in 0.6090 is probably out of reach.’ We notice that ‘there is another level of resistance at 0.6075.’ Subsequently, the NZD rose to a maximum of 0.6075 before closing at 0.6058 (+0.34%).
Vision at 1-3 weeks: “On Tuesday (June 24, par at 0.5995), we indicate that the recent ‘sudden but ephemeral movements have resulted in a mixed perspective.’ We expected the NZD ‘to negotiate in a range of 0.5900/0.6090 for now.’ Yesterday (June 26, for 0.6055), we indicate that the NZD ‘is likely to try 0.6090, but it is too early to determine if it can break clearly above this level.’ The NZD then rose to a maximum of 0.6075.
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.
