The bearish impulse is consolidating; The New Zealand dollar (NZD) will probably decrease against the US dollar (USD), but it is not clear if you can break the main support in 0.5450. 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 in 0.5450, the FX analysts of UOB Group point out, to be Leang and Peter Chia.
The NZD will probably decrease
24 -hour vision: “We noticed yesterday that ‘the bassist impulse seems to have decreased slightly.’ We add, ‘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.’ The NZD was then negotiated in a higher range of 0.5521/0.5625, closing at 0.5535. It is not clear if there is enough impulse for the NZD to break the main support in 0.5450. “
Vision 1-3 weeks: “After two consecutive days of falling in the NZD, we highlight yesterday (April 8, quote at 0.5545) that ‘although it is too early to wait for the weakness to stabilize, it remains to be seen how much more the NZD can fall.’ We add, ‘The following support is at 0.5450.’ There are no changes in our vision.
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.
