NZD/USD is expected to maintain the range bound theme unchanged in the short-term horizon, note UOB Group’s Economist Lee Sue Ann and Markets Strategi
is expected to maintain the range bound theme unchanged in the short-term horizon, note UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: Our expectation for NZD to edge lower yesterday did not materialise as it traded in a range of 0.5895/0.5920. Upward momentum is showing signs of building, albeit tentatively. Today, as long as NZD stays above 0.5895 , it could strengthen, but it is unlikely to break the major resistance at 0.5960.
Next 1-3 weeks: Our most recent narrative was from last Monday , wherein NZD is likely to trade in a range, probably between 0.5860 and 0.5960. We continue to hold the same view. 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.
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