NZD/USD needs to close above 0.70 – UOB

In opinion of analysts at UOB Group, the Kiwi dollar needs a close above 0.70 vs. the greenback in order to shift to a bullish outlook.

Key Quotes

“The unexpected strong rally clearly bodes well for NZDbut we prefer to wait for a daily closing above 0.7000 before turning bullish”.

“This appears to be a likely scenario unless there is a move back below 0.6870 in the next 1 to 2 days”.