The New Zealand Dollar (NZD) could rise, potentially reaching 0.6010. The major resistance at 0.6035 is unlikely to come under treat. Price action continues to suggest NZD could recover, possibly to 0.6035.
Support is at 0.5920
24-HOUR VIEW: “We expected NZD to trade in a range between 0.5915 and 0.5965 yesterday. We did not anticipate the spike in volatility as NZD plunged sharply, but briefly, to 0.5849 and then rebounded strongly to 0.5969. NZD continues to rise in early Asian trade today, and it could potentially reach 0.6010. The next resistance at 0.6035 is unlikely to come under threat. Support is at 0.5940; a breach of 0.5920 would mean that NZD is not rising further.”
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