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26 Jan 2016
NZD/USD could drop to 0.6410/15 – UOB
FXStreet (Edinburgh) - The research team at UOB Group believes a test of 0.6410/15 remains on the cards for the pair.
Key Quotes
“While NZD traded in a range of 0.6450/0.6532 yesterday (close to our expectation of 0.6450/0.6520), the rather weak daily closing suggests further downward pressure from here”.
“Only a move back above 0.6490 would indicate that the short-term pressure has eased, otherwise, another leg lower to 0.6410/15 appears likely”.
Key Quotes
“While NZD traded in a range of 0.6450/0.6532 yesterday (close to our expectation of 0.6450/0.6520), the rather weak daily closing suggests further downward pressure from here”.
“Only a move back above 0.6490 would indicate that the short-term pressure has eased, otherwise, another leg lower to 0.6410/15 appears likely”.