Created
: 2025.09.01
2025.09.01 21:02
There is scope for New Zealand Dollar (NZD) to continue to edge higher; a clear break above 0.5920 seems unlikely. In the longer run, the likelihood of NZD breaking above the top of the 0.5820/0.5920 range is increasing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
24-HOUR VIEW: "We expected NZD to rise last Friday. Yesterday, when NZD was at 0.5895, we indicated that 'there is scope for NZD to continue to edge higher, but a break above 0.5920 seems unlikely.' Support levels are at 0.5885 and 0.5875."
1-3 WEEKS VIEW: "After expecting NZD to trade in a 0.5820/0.5920 range since early last week, we pointed out on Friday (29 Aug, spot at 0.5880) that 'shorter-term upward momentum has increased somewhat.' We also pointed out that 'the likelihood of NZD breaking above 0.5920 has also increased, and it will increase further in the coming days provided that NZD holds above 0.5835.' We continue to hold the same view, but we are revising the 'strong support' level to 0.5855 from 0.5835."
Created
: 2025.09.01
Last updated
: 2025.09.01
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy