NZD/USD: Above 0.5725, weakness in NZD has stabilised – UOB Group

Source Fxstreet

New Zealand Dollar (NZD) could continue to rebound but any advance is likely part of a 0.5670/0.5725 range. In the longer run, if NZD breaks above 0.5725, it would mean that the weakness has stabilised, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

NZD can continue to rebound today

24-HOUR VIEW: "Following the sharp drop in NZD two days ago, we indicated yesterday that 'the oversold decline has not stabilised.' We also indicated that NZD 'could drop further, but a sustained break below 0.5640 is unlikely.' Our expectations did not turn out, as NZD rebounded to close higher by 0.40% at 0.5701. While NZD could continue to rebound today, any advance is likely part of a 0.5670/0.5725 range. In other words, NZD is unlikely to break clearly above 0.5725."

1-3 WEEKS VIEW: "We revised our view to negative last Wednesday (26 Mar, spot at 0.5730), indicating that NZD 'is likely to edge lower toward the major support zone between 0.5650 and 0.5670.' After NZD plummeted below the support zone, we indicated yesterday (01 Apr, spot at 0.5670) that 'the rapid increase in momentum suggests NZD is likely to continue to head lower.' However, we pointed out, 'the next support at 0.5610 may not come into view so quickly.' We did not anticipate NZD to rebound to 0.5704. From here, if NZD breaks above 0.5725 (no change in ‘strong resistance’ level from yesterday), it would mean that the weakness in NZD has stabilised."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Nvidia stock sinks 4% as Trump’s tariff plans rattle AI tradeNvidia shares fell over 4% early Monday after US President Donald Trump delivered a stern message about trade tariffs. Trump said on Sunday that no country would be given any special treatment regarding tariffs. He also signed new trade policies into effect on April 2, which he calls “Liberation Day.” This frightened investors, who had […]
Author  NewsBTC
Apr 01, Tue
Nvidia shares fell over 4% early Monday after US President Donald Trump delivered a stern message about trade tariffs. Trump said on Sunday that no country would be given any special treatment regarding tariffs. He also signed new trade policies into effect on April 2, which he calls “Liberation Day.” This frightened investors, who had […]
placeholder
Bitcoin Price Bounces Back—Can It Finally Break Resistance?Bitcoin price started a recovery wave above the $83,500 zone. BTC is now consolidating and might struggle to settle above the $85,500 zone. Bitcoin started a decent recovery wave above the $83,500
Author  NewsBTC
Yesterday 03: 37
Bitcoin price started a recovery wave above the $83,500 zone. BTC is now consolidating and might struggle to settle above the $85,500 zone. Bitcoin started a decent recovery wave above the $83,500
placeholder
Bitcoin Price Struggling but Short-Term Holders Might Be Setting the Stage for $150KBitcoin has recently displayed signs of upward momentum, trading at $85,215, marking a 2.2% increase in just the past day. Despite this short-term gain, the asset remains down by over 21.2% from its
Author  NewsBTC
Yesterday 08: 43
Bitcoin has recently displayed signs of upward momentum, trading at $85,215, marking a 2.2% increase in just the past day. Despite this short-term gain, the asset remains down by over 21.2% from its
placeholder
U.S. March Nonfarm Payroll Preview: Even If Data Aligns with Expectations, Financial Markets May Not Escape the Fate of VolatilityOn 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
Author  TradingKey
Yesterday 08: 59
On 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
placeholder
Gold price stabilizes ahead of Trump's tariffs announcement on “Liberation Day”Gold price (XAU/USD) stabilizes just above $3,130 at the time of writing on Wednesday following a mean reversal move the prior day after a fresh all-time high got eked out at $3,149 before closing in negative territory.
Author  FXStreet
Yesterday 10: 01
Gold price (XAU/USD) stabilizes just above $3,130 at the time of writing on Wednesday following a mean reversal move the prior day after a fresh all-time high got eked out at $3,149 before closing in negative territory.
Related Instrument
goTop
quote