NZD/USD rangebound most likely near-term – UOB

The research team at UOB Group now sees the Kiwi dollar in a consolidative pattern vs. the greenback in the next 1-3 weeks.

Key Quotes

“The sharp drop yesterday has greatly diminished the odds for a move above the major 0.6750 resistance”.

“From here, there is no chance to the neutral view and we expect NZD to trade between 0.6560 and 0.6750 in the coming days”.