NZD/USD: Upside bias diminished below 0.6840 – UOB By pabspiovano NZDUSD Banks Currencies Crosses
24-hour view: “We highlighted yesterday that NZD ‘could rise to 0.6925 but a sustained advance above this level is unlikely’. NZD subsequently rose to 0.6922 before easing off. Upward momentum has waned somewhat and this coupled with overbought conditions suggests NZD is unlikely to advance further. From here, there is a slight downward bias but any weakness is viewed as part of a lower trading range of 0.6855/0.6910. In other words, a clear break of 0.6855 is unlikely.
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