NZD/USD neutral stance in the short term – UOB

The research team at UOB Group noted the neutral stance on NZD/USD in the next weeks, likely to navigate between 0.7240/0.7380.

Key Quotes

“The outlook for NZD has shifted to neutral with the break above 0.7310 last Friday (high of 0.7360)”.

“While short-term undertone has improved and the immediate bias is on the upside, only a clear break above the recent high of 0.7380 would indicate the start of a sustained up-move”.

“In the meanwhile, NZD is expected to trade sideways, likely within a 0.7240/0.7380 range”.