is now expected to navigate the 0.5860-0.5960 range for the time being.24-hour view: We highlighted yesterday that “upward momentum is beginning to build, albeit tentatively.” We held the view that NZD could edge higher, but any advance is expected to face solid resistance at 0.5935. We indicated that “support is at 0.5900, followed by 0.5880.” In NY trade, NZD dipped briefly to 0.5880 before rebounding. The rebound did not threaten 0.5935 .
Next 1-3 weeks: Our update from Monday is still valid. As highlighted, the recent downward pressure has subsided. For now, NZD is likely to trade in a range, probably between 0.5860 and 0.5960. 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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