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22 Mar 2016
NZD/USD points to rangebound near-term – UOB
According to the research team at UOB Group, the pair’s perspective remains tilted towards a sideline pattern in the short term.
Key Quotes
“The breach of the 0.6750 stop-loss yesterday (low of 0.6747) signals the third time this year that NZD has tried but failed to break higher (the recent high of 0.6875 fell short of the massive resistance zone at 0.6880/00)”.
“From here, NZD has likely moved back into a broad sideway range between 0.6650 and 0.6900”.
Key Quotes
“The breach of the 0.6750 stop-loss yesterday (low of 0.6747) signals the third time this year that NZD has tried but failed to break higher (the recent high of 0.6875 fell short of the massive resistance zone at 0.6880/00)”.
“From here, NZD has likely moved back into a broad sideway range between 0.6650 and 0.6900”.