UOB highlight the levels they are watching for the New Zealand dollar:
- a move beyond the 0.6737 peak seen earlier this week is not expected
- support is at 0.6690 but the stronger level is at 0.6675
One to three week view with S & R (bolding mine):
- the recovery in NZD from the sharp plunge on Monday was more robust and rapid than expected
- we are holding on to our view that NZD is in a sideway-trading range of 0.6610/0.6730 for now
- Upward momentum has picked up but NZD has to move and stay above 0.6750 in order to indicate it has moved into a 'positive phase'.
- The prospect for such a scenario is not high but it would continue to increase as long as NZD does not move below 0.6650 within the next few days
