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- NZD/USD expected to remain in a consolidative fashion – UOB
NZD/USD expected to remain in a consolidative fashion – UOB
FX Strategists at UOB Group are seeing the NZD sticking to the ongoing sideline note vs. the USD.
- "24-hour view: While our expectation for NZD to trade sideways was not wrong, the registered range of 0.6390/0.6412 was much narrower than our expected range of 0.6380/0.6430. The quiet price action offers no fresh clues and NZD is likely to continue to trade sideways. Expected range for today, 0.6375/0.6415.
- Next 1-3 weeks: There is not much to add as NZD traded in a quiet manner and closed little changed (0.6398, +0.01%). We continue to hold the same view from last Friday (15 Nov, spot 0.6380) wherein NZD is “expected to trade sideways between 0.6350 and 0.6465 for a while more."
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