NZD/USD: Likely to consolidate in a range of 0.6025/0.6085 – UOB Group

Source Fxstreet

New Zealand Dollar (NZD) is likely to consolidate in a range of 0.6025/0.6085. In the longer run, upward momentum is increasing, but NZD must first close above 0.6095 before a move to 0.6135 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Upward momentum is increasing

24-HOUR VIEW: "We did not expect the sharp rise in NZD that reached a high of 0.6088 (we were expecting range trading). NZD pulled back from the high to close at 0.6059. The pullback in overbought conditions suggests NZD is unlikely to rise further. Today, NZD is more likely to consolidate in a range of 0.6025/0.6085."

1-3 WEEKS VIEW: "We highlighted last Friday (13 Jun, spot at 0.6025) that the recent 'upward pressure has faded.' We were of the view that NZD 'is likely to trade in a range of 0.5970/0.6080 for now.' Yesterday, NZD rose sharply to 0.6088. There has been an increase in momentum, but not sufficient to indicate the start of a sustained advance just yet. NZD must first close above 0.6095 before a move to 0.6135 can be expected. The likelihood of NZD closing above 0.6095 will remain intact as long as the ‘strong support’ level, currently at 0.6005, is not breached."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Cardano (ADA) Turns Upward — Signs of a Recovery EmergeCardano price started a fresh increase from the $0.5650 zone. ADA is now consolidating and might attempt a clear move above the $0.5925 zone. ADA price started a fresh increase from the $0.5650
Author  NewsBTC
17 hours ago
Cardano price started a fresh increase from the $0.5650 zone. ADA is now consolidating and might attempt a clear move above the $0.5925 zone. ADA price started a fresh increase from the $0.5650
placeholder
Stellar Price Forecast: XLM eyes triangle breakout rally amid PayPal’s stablecoin integration buzzStellar (XLM) ticks higher by nearly 1% at press time on Friday, adding minor gains to the 5% surge from Sunday. Stellar nears the resistance trendline of a descending triangle pattern after bouncing off its support floor on Wednesday, accounting for a near 12% surge. 
Author  FXStreet
17 hours ago
Stellar (XLM) ticks higher by nearly 1% at press time on Friday, adding minor gains to the 5% surge from Sunday. Stellar nears the resistance trendline of a descending triangle pattern after bouncing off its support floor on Wednesday, accounting for a near 12% surge. 
placeholder
Gold price slides closer to $3,300 amid the emergence of some USD buyingGold price (XAU/USD) attracts fresh sellers at the start of a new week and slides to the $3,300 neighborhood, or a multi-day low during the Asian session.
Author  FXStreet
17 hours ago
Gold price (XAU/USD) attracts fresh sellers at the start of a new week and slides to the $3,300 neighborhood, or a multi-day low during the Asian session.
placeholder
EUR/USD Price Forecast: Bullish outlook remains in play above 1.1750The EUR/USD pair edges lower to around 1.1765 during the early European session on Monday. The renewed concerns about a global trade war and tariff uncertainty weigh on the shared currency.
Author  FXStreet
17 hours ago
The EUR/USD pair edges lower to around 1.1765 during the early European session on Monday. The renewed concerns about a global trade war and tariff uncertainty weigh on the shared currency.
placeholder
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bulls eye further upside as key resistances flip into supportBitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are showing signs of renewed strength as the crypto market kicks off the week on a bullish note. BTC has reclaimed ground above $109,000 after confirming a breakout from its consolidation phase.
Author  FXStreet
17 hours ago
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are showing signs of renewed strength as the crypto market kicks off the week on a bullish note. BTC has reclaimed ground above $109,000 after confirming a breakout from its consolidation phase.
Related Instrument
goTop
quote