NZD/USD could extend the upside to 0.7375 – UOB

In view of the FX Research team at UOB Group, NZD/USD could attempt a new visit to 0.7375 in the next 1-3 weeks.

Key Quotes

“There is no change to the current bullish outlook”.

“As highlighted previously, while the current NZD strength is over-extended, there is room for extension to 0.7375”.

“NZD touched a high of 0.7362 earlier and as long as 0.7250 is not taken out (adjusted from 0.7220), another attempt towards 0.7375 seems likely”.

“That said, in view of the overbought conditions, those who are long from last week may like to take partial profit”.