22 Jan 2015
NZD/USD may weaken further – UOB
FXStreet (Barcelona) - Analysts at UOB Group anticipate further NZD weakness to 0.7450 followed by 0.7370 levels.
Key Quotes
“The overnight weakness in NZD broke below last year’s low near 0.7610. While the current level is
sitting near strong trend-line support, impulsive downward momentum suggests lower NZD in the
coming weeks.”
“We are anticipating a move to the 2012 low of 0.7455 followed by 0.7370. Trailing-stop is at 0.7720 but any short-term recovery will likely struggle to move above 0.7650.”
Key Quotes
“The overnight weakness in NZD broke below last year’s low near 0.7610. While the current level is
sitting near strong trend-line support, impulsive downward momentum suggests lower NZD in the
coming weeks.”
“We are anticipating a move to the 2012 low of 0.7455 followed by 0.7370. Trailing-stop is at 0.7720 but any short-term recovery will likely struggle to move above 0.7650.”