The New Zealand Dollar (NZD) is expected to trade in a range between 0.5845 and 0.5885. In the longer run, outlook for NZD remains negative; the technical target now is at last year’s low of 0.5775, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
Outlook for NZD remains negative
24-HOUR VIEW: “We expected NZD ‘to continue to weaken’ last Friday. However, it traded in a 0.5841/0.5880 range. The price movements are likely part of a range trading phase. Today, NZD is expected to trade between 0.5845 and 0.5885.”
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