NZD/USD holding on to the neutral stance – UOB

In view of strategists at UOB Group, NZD/USD is seen extending its consolidative theme for the next 1-3 weeks.

Key Quotes

“As noted yesterday, any extension higher in NZD is expected to struggle near the major 0.7045/50 resistance. NZD touched a high of 0.7048 before dropping sharply to hit an overnight low of 0.6959. Despite the sharp decline, the current movement is viewed as part of a broader consolidation phase and further sustained down-move is not expected”.

“While upward momentum has improved, it is too early to expect a sustained up-move as 0.7055 is a very strong resistance and this level is unlikely to yield so easily. Overall, we prefer to hold a neutral stance for now even though the short-term bias is tilted to the upside (as long as 0.6950 is intact)”.


1 Week
Avg Forecast 0.6968
  • 29% Bullish
  • 57% Bearish
  • 14% Sideways
Bias Bearish
1 Month
Avg Forecast 0.6927
  • 27% Bullish
  • 55% Bearish
  • 18% Sideways
Bias Bearish
1 Quarter
Avg Forecast 0.6799
  • 7% Bullish
  • 60% Bearish
  • 33% Sideways
Bias Bearish


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.