Current price movements are probably part of a phase of trade in 0.6000/0.6045 rank. In the long term, the bullish impulse is greatly maintained unchanged, but there is a possibility that the NZD/USD tests 0.6095, the FX analysts of UOB Group point out, to be Leang and Peter Chia.
Possibility that the NZD tests 0.6095
24 -hour vision: “After the NZD rose and exceed our expectations last Thursday, we indicated on Friday that ‘the risk is still on the positive side today, but without a clear increase in the bullish impulse, the NZD may not be able to break over 0.6080.’ However, there was no upward tracking, since the NZD was negotiated in a range of 0.6008/0.6050.
Vision 1-3 weeks: “We review our perspective for the NZD to positive last Tuesday (June 3, spot in 0.6040), indicating that ‘the rapid accumulation of bullish impulse indicates a greater strength of the NZD, and the level to be monitored is 0.6095.’ After the NZD rose to 0.6088, we highlighted last Friday (June 6, spot in 0.6045) that the bullish impulse remains largely unchanged, but as long as it does not break 0.5985 (level of ‘strong support’), there is a possibility that the NZD tests 0.6095. We maintain the same perspective. “
Source: Fx Street
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