NZD/USD further consolidation likely – UOB

The Kiwi dollar remains poised for a continuation of the rangebound theme in the short term, according to the research team at UOB Group.

Key Quotes

“NZD touched a high of 0.6807 before easing off quickly. The pull-back from the top appears to have scope to extend lower to 0.6730 but last week’s 0.6710 low is likely out of reach for now”.

“There Is no change to the current neutral view and we continue to expect broad sideway trading within a 0.6690/0.6845 range”.