NZD/USD Pullback Should be Corrective – UOB
In view of analysts at UOB Group, the ongoing leg lower of the Kiwi dollar could have short legs.
Key Quotes
“We turned bullish NZD yesterday and there is no change to the view”.
“The
current movement is likely a short-term corrective pull-back and only a
break below 0.6910 would indicate that our bullish view is wrong”.
“That
said, the recent high of 0.7055 is acting as a strong resistance now
and this level has to break before a move to 0.7115 can be expected”.
