NZD/USD Further Consolidation Expected – UOB

NZD/USD Further Consolidation Expected – UOB

According to analysts at UOB Group, the Kiwi dollar could attempt a sideline pattern in the next 1-3 weeks.

Key Quotes

“The recent strong downward pressure has clearly eased and the current movement is viewed as the early stages of a consolidation phase”.

“We just shifted to a neutral stance yesterday and there is no change to the view. We continue to expect this pair to trade in a broad 0.6800/0.7000 range”.