NZD/USD faces consolidation between 0.6545-0.6800 – UOB

NZD/USD is predicted to trade in the 0.6545-0.6800 range in the short-term horizon, suggested FX Strategists at UOB Group.

Key Quotes

24-hour view: “NZD traded between 0.6615 and 0.6744 before closing at 0.6706. The outlook is unclear and NZD could trade in an ‘undecided’ manner but is likely stay between the two major levels of 0.6610 and 0.6750.”

Next 1-3 weeks: “There is not much to add to our update from yesterday. As highlighted, the current movement in NZD is viewed as part of a consolidation phase and NZD could trade between the two major levels of 0.6545 and 0.6800 for a period of time.”