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UOB: The US dollar against the New Zealand dollar may continue to rise.
On November 7th, UOB's global economic and market research department Kwok stated in a research report on Gralon that from the chart perspective, the US dollar against the New Zealand dollar may continue to rise. The market strategist pointed out that on Wednesday, the currency pair surged above the 1.3270 level and decisively broke through the 55-week index moving average line. The strategist added that the technical outlook indicates that the uptrend of USD/NZD is expected to continue further, although it is currently unclear whether the currency pair can break through the important resistance level of 1.3460.
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