NZD/USD: Upside momentum picks up pace – UOB By pabspiovano NZDUSD Currencies Crosses Banks
could see its upside bias gathering traction in the next weeks, commented FX Strategists at UOB Group.24-hour view: “We highlighted yesterday that ‘while the risk for today is on the downside, any weakness is not expected to challenge last week’s near 0.6630’. Our view for a lower NZD was wrong as it soared and closed on a firm note at 0.6776 . The rapid rise has room to extend but in view of the overbought conditions, the major resistance at 0.6810 is unlikely to come under challenge .
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