NZD/USD bullish, could struggle near 0.6880/0.6900 – UOB

According to the research team at UOB Group, the pair’s outlook remains bullish although the upside faces strong resistance around 0.6880/0.6900.

Key Quotes

“As indicated last Friday, a clear break above the 0.6775 would indicate the start of a bullish phase in NZD”.

“The immediate target is at 0.6895/00 but we must highlight that 0.6880/0.6900 is a formidable resistance zone and is not expected to break so easily. Stop-loss is at 0.6685”.