Ella 
Economist Lee Sue Ann and market strategist Quek ser Leang at UOB Group pointed out that further gains could push NZD/USD to retest the 0.6260 area in the short term.
NZD’s strong surge to 0.6236 during the North American session was a surprise (we had expected a consolidation). The sharp turnaround seems overdone and further sharp gains in NZD are unlikely. NZD is more likely to trade in the 0.6150/0.6230 range today.
The next 1-3 weeks: Yesterday (June 14, the market price was 0.6155) we emphasized that “the New Zealand dollar has room to rise further, even if it has to rise significantly above 0.6180 to continue to rise further. Looking ahead, 0.6230 is a strong resistance, and the New Zealand dollar Might be hard to break above that.” We didn’t expect the kiwi to surge as high as 0.6265 during the North American session. On the downside, a break of 0.6125 (yesterday’s ‘strong support’ at 0.6100) would signal an end to the NZD’s strength that began at the start of the week.
