The New Zealand Dollar (NZD) is likely to trade in a narrow range between 0.5725 and 0.5755 in the short term. Looking ahead, UOB Group’s FX analysts Quek Ser Leang and Peter Chia maintain a neutral outlook for NZD, with price movements expected to stay contained within a slightly wider range of 0.5700 to 0.5770 for now.
Neutral Outlook for NZD/USD
24-Hour View:
Yesterday, NZD/USD fluctuated between 0.5737 and 0.5760, a tighter range than the previously expected 0.5720 to 0.5760. Momentum indicators remain mostly flat, supporting a continuation of range-bound trading. However, a softer undertone suggests the pair may now trade within a slightly lower range of 0.5725 to 0.5755 today.
1 to 3 Weeks Outlook:
In the latest update from October 17, the outlook for NZD was described as neutral, with an expected trading range of 0.5685 to 0.5770. This view remains unchanged, though a narrower range of 0.5700 to 0.5770 is currently considered sufficient to capture the pair’s price movements.