NZD/USD: Likely to continue to trade in a range – UOB Group

Source Fxstreet

New Zealand Dollar (NZD) is likely to continue to trade in a range, probably between 0.5715 and 0.5755. In the longer run, NZD is likely to edge lower toward the major support zone of 0.5650/0.5670, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

NZD has a chance of edging lower toward 0.5650/0.5670

24-HOUR VIEW: "NZD traded in a 0.5713/0.5751 range yesterday, closing largely unchanged at 0.5734 (+0.08%). Momentum indicators are mostly flat, and NZD is likely to continue to trade in a range today, probably between 0.5715 and 0.5755."

1-3 WEEKS VIEW: "The sharp pullback in NZD last week has resulted in an increase in momentum, albeit not much. From here, NZD is likely to edge lower toward the major support zone between 0.5650 and 0.5670. Currently, the likelihood of NZD breaking this support zone is not high. The downside bias will remain intact provided that NZD remains below 0.5770."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
WTI consolidates below $84.50, two-week top as bullish bias remains amid Hormuz standoffWest Texas Intermediate (WTI) – the benchmark US Crude Oil price – extends its consolidative price move through the first half of the European session and currently trades near the $84.25-$84.30 area, close to a two-week high set earlier this Tuesday.
Author  FXStreet
9 hours ago
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – extends its consolidative price move through the first half of the European session and currently trades near the $84.25-$84.30 area, close to a two-week high set earlier this Tuesday.
placeholder
Australian Dollar gains as US Dollar struggles amid fading Fed rate hike betsAUD/USD extends its gains for the third successive day, trading around 0.7110 during the Asian hours on Tuesday. The currency pair continues to appreciate as the US Dollar (USD) remains subdued amid fading expectations for further rate hikes by the Federal Reserve (Fed).
Author  FXStreet
18 hours ago
AUD/USD extends its gains for the third successive day, trading around 0.7110 during the Asian hours on Tuesday. The currency pair continues to appreciate as the US Dollar (USD) remains subdued amid fading expectations for further rate hikes by the Federal Reserve (Fed).
placeholder
Gold Price Forecast: Gold May Break $4,500 as Fed Rate-Hike Expectations Continue to CoolAs of the European session on August 17, gold prices (XAUUSD) were trading above $4,400, up about 0.7% on the day and reaching an intraday high of $4,416.43, extending last Friday's gains
Author  TradingKey
Yesterday 10: 10
As of the European session on August 17, gold prices (XAUUSD) were trading above $4,400, up about 0.7% on the day and reaching an intraday high of $4,416.43, extending last Friday's gains
placeholder
Gold gains momentum to near $4,400 as Fed hike expectations drop despite Us-Iran tensionsGold price (XAU/USD) gains momentum to around $4,395 during the early Asian trading hours on Monday. The precious metal extends the rally as cooling US inflation data has dampened expectations for the US Federal Reserve (Fed) interest rate hike. 
Author  FXStreet
Yesterday 01: 18
Gold price (XAU/USD) gains momentum to around $4,395 during the early Asian trading hours on Monday. The precious metal extends the rally as cooling US inflation data has dampened expectations for the US Federal Reserve (Fed) interest rate hike. 
placeholder
Copper Price Forecast: Tight Supply Pushes Price Above $14,000, Can Copper Reach $15,000?As of the European session on August 14, international spot copper prices (COPPER) continued to fluctuate near historical highs, trading around $14,070, down slightly by 0.3% intraday. De
Author  TradingKey
Aug 14, Fri
As of the European session on August 14, international spot copper prices (COPPER) continued to fluctuate near historical highs, trading around $14,070, down slightly by 0.3% intraday. De
Related Instrument
goTop
quote