NZD/USD: Door open to a potential drop to 0.5750 – UOB – by pabspiovano NZDUSD Currencies Crosses Banks
24-hour view: “We highlighted yesterday that ‘there is room for NZD to drop to 0.5870’. We added, ‘The next support at 0.5840 is unlikely to come into view’. While NZD dropped to a low of 0.5844 in NY, it cracked 0.5840 during early Asian hours. Obviously, NZD is still under pressure and we see chance for NZD to weaken to 0.5780, possibly 0.5750. On the upside, a breach of 0.5870 would indicate that the current downward pressure has eased.
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