Analysts Quek Ser Leang and Peter Chia from UOB Group maintain a neutral outlook for the New Zealand Dollar (NZD), expecting NZD/USD to trade within a range of 0.5685 to 0.5770 in the near term.
Short-Term View (24 Hours):
NZD/USD climbed to a high of 0.5751 yesterday before closing at 0.5745, up 0.34% on the day.
While the pair advanced, there was no clear sign of building bullish momentum. However, the tone remains slightly firmer, suggesting NZD/USD is likely to stay within a higher intraday range of 0.5725 to 0.5755 today.
Medium-Term View (1–3 Weeks):
UOB’s latest guidance, first issued on October 17 with spot at 0.5725, remains unchanged.
The analysts note that downward pressure has eased, prompting a neutral stance. For now, the pair is expected to continue trading sideways between 0.5685 and 0.5770, with no clear directional bias.