The next support level to watch is 0.6040 – UOB Group
The New Zealand Dollar (NZD) is expected to trade sideways between 0.6065 and 0.6115, with a potential for further weakening according to analysts at UOB Group. The next support level to monitor is at 0.6040. A breach above 0.6135 could signal an end to the NZD weakness. In the short-term view, NZD is anticipated to trade within the range of 0.6065 to 0.6115. On a longer-term perspective, NZD is likely to continue weakening with 0.6040 as the next support level. Only a breach above 0.6135 would indicate an end to the recent NZD weakness.