The New Zealand dollar (NZD) probably rises more; It is unlikely that it can break clearly above 0.5965. In the long term, perspectives are mixed; The NZD Cotice is expected in a range of 0.5835/0.6030, the FX analysts of UOB Group, to be Leang and Peter Chia.
It is expected that the NZD Cotice in a range of 0.5835/0.6030
24 -hour vision: “The following are extracts of our update yesterday: ‘Despite falling abruptly at 0.5847 yesterday, the downward impulse has not increased significantly. However, the risk for the NZD is on the negative side, but any additional fall is probably part of a lower range of 0.5835/0.5900. Then, the NZD fell to 0.5848 before shooting, reaching a maximum of 0.5942. 0.5885. “
Vision at 1-3 weeks: “Last Friday (May 9, par at 0.5900), we highlight the following: ‘There has been a slight increase in impulse, indicating that the tendency for the NZD is inclined towards the negative side towards 0.5870, potentially reaching 0.5835. The downward trend will remain intact whenever the level of’ strong resistance is not broken. 0.5960. ‘ Yesterday (May 13, for 0.5860), we indicate that ‘although the downward impulse has not increased much more, the possibility that the NZD reaches 0.5835 has increased.’ We did not expect the NZD to then shoot over our level of ‘strong resistance’ of 0.5940 (the maximum was 0.5942).
Source: Fx Street
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