NZD/USD: Likely to trade in the 0.6150/0.6270 range – UOB Group
|The New Zealand Dollar (NZD) is likely to trade in a 0.6150/0.6270 range, UOB Group FX analysts Quek Ser Leang and Victor Yong note.
Closing in on the 0.6270 hurdle
24-HOUR VIEW: “In NY trading, NZD traded in a volatile manner between 0.6184 and 0.6268, closing at 0.6208 (+0.33%). We are not able to glean much out of the choppy price movements. Today, we expect NZD to trade in a range, probably between 0.6180 and 0.6230.”
1-3 WEEKS VIEW: “On Tuesday (17 Sep, spot at 0.6185), we indicated that NZD is likely to trade in a 0.6135/0.6235 range for now. While NZD broke above 0.6235 yesterday, it pulled swiftly and sharply from 0.6268. There has been no increase in either downward momentum or upward momentum. We continue to expect NZD to trade in a range, albeit a higher and wider one of 0.6150/0.6270.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.