NZD/USD further losses seen below 0.6665 – UOB

In view of the research team at UOB Group, the Kiwi dollar faces further pullbacks on a close below 0.6665.

Key Quotes

“Similar to AUD/USD, NZD was not able to recover in a sustained manner despite waning downward momentum and oversold conditions”.

“Downward pressure has increased and a daily closing below 0.6665 would indicate the start of a sustained down-move towards the mid-March low of 0.6575”.

“This appears to be a likely scenario unless NZD can move and stay above 0.6730 within the next 1 to 2 days”.