A narrower range of 0.5865/0.5985 is probably enough to contain price movements for now, the FX analysts of the UOB Group, quek being Leang and Peter Chia point out.
Any decline is unlikely that it breaks clearly below 0.5885
24 -hour vision: “In yesterday’s first Asian session, we indicate that ‘current price movements are probably part of a negotiation phase in range between 0.5910 and 0.5960.’ However, instead of operating in a range, the NZD fell to 0.5895, closing at 0.5898 (-0.70%). below 0.5885. “
Vision at 1-3 weeks: “We have expected the NZD to operate in a range since the mid-last week. Yesterday (May 22, Spot at 0.5935), we highlight that ‘while the price action in recent days does not provide new tracks, a narrower range of 0.5865/0.5985 is probably enough to contain the price movements for now.’ 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.
