NZD/USD could test 0.6300 – UOB

FXStreet (Edinburgh) - The research team at UOB Group sees the possibility of the pair visiting the 0.6300 neighbourhood in the near term.

Key Quotes

“As pointed out last Friday, oversold conditions suggest any NZD weakness to be at a slower pace”.

“We saw a low of 0.6382 last Friday and the quick rebound has dented the downward momentum”.

“That said, confirmation of a short term low is only upon a break above the stop-loss at 0.6560 (unchanged from Friday). A break below 0.6380 would target 0.6300 next”.