The increase in momentum suggests a potential for the NZD to continue advancing; It is not clear if you can break and stay above the resistance zone of 0.5765/0.5775. In the long term, the bullish impulse is increasing again; The NZD must break and stay above the resistance zone of 0.5765/0.5775 Before a sustained increase is likely, FX analysts of UOB Group point out, to be Leang and Peter Chia.
NZD to continue moving forward
24 -hour vision: “Our expectation that the NZD was negotiated in a range last Friday was incorrect. Instead of negotiating in a range, the NZD shot at a maximum of 0.5755, closing in a strong note in 0.5750 (+0.93%). The increase in the momentum suggests that there is potential for the NZD to continue advancing. However, it is not clear for now. The NZD will break and remain above the resistance zone of 0.6765/0.5775.
Vision at 1-3 weeks: “Last Friday (March 14), when the NZD was at 0.5700, we indicated that ‘current price movements are probably part of a phase of trade in rank, most likely between 0.5640 and 0.5765.’ We did not expect the strong subsequent advance in the NZD that reached 0.5755. 0.5695 in the next few days. “
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.
