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25 Apr 2016
NZD/USD back to neutral stance – UOB
In view of analysts at UOB Group, the Kiwi dollar’s outlook has now shifted back to neutral from bullish.
Key Quotes
“Our recent bullish expectation for NZD was proven wrong quickly as the stop-loss at 0.6910 was taken out”.
“We hold a neutral view now and consider the current movement as a corrective pull-back which has scope to extend lower to 0.6765. Overall, this pair is expected to remain under pressure unless it can reclaim 0.6940”.
Key Quotes
“Our recent bullish expectation for NZD was proven wrong quickly as the stop-loss at 0.6910 was taken out”.
“We hold a neutral view now and consider the current movement as a corrective pull-back which has scope to extend lower to 0.6765. Overall, this pair is expected to remain under pressure unless it can reclaim 0.6940”.