The New Zealand dollar (NZD) could fall against the US dollar (USD), but since there is no significant increase in impulse, it is unlikely that it can break clearly below 0.5860. In the long term, the perspective is mixed; The NZD is expected to be negotiated in a range of 0.5835/0.6030, the FX analysts of the UOB Group, to be Leang and Peter Chia.
The NZD/USD is unlikely to break clearly below 0.5860
24 -hour perspective: “After the NZD shot on Tuesday, we highlight yesterday, Wednesday, that the NZD ‘will probably upload more.’ However, we point out that ‘the conditions are deeply overcompraned, and it is unlikely that the NZD can break over 0.5965.’ Although the NZD subsequently rose to 0.5969, it fell sharply from the maximum, closing at 0.5898 (-0.63%) Positive, resistance levels are at 0.5915 and 0.5940. “
Perspective 1-3 weeks: “It has not changed much since our update yesterday (May 14, for 0.5935). As stood out, ‘recent price movements have resulted in a mixed perspective.’ At the moment, we hope that the NZD is negotiated in a range of 0.5835/0.6030. “
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.
