The New Zealand Dollar is expected to remain in a tight trading range against the U.S. Dollar, with momentum indicators suggesting limited movement in the near term, according to analysts at UOB Group.
Foreign exchange strategists Quek Ser Leang and Peter Chia of UOB Group noted that the NZD/USD pair is likely to fluctuate between 0.5725 and 0.5755 in the short term. The broader outlook remains neutral, with a slightly wider range of 0.5700 to 0.5770 expected to contain price action over the coming weeks.
Short-Term Outlook
In their 24-hour view, the analysts observed that the Kiwi traded within a narrower range than anticipated on Wednesday, moving between 0.5737 and 0.5760 — tighter than the expected 0.5720 to 0.5760 band.
They added that “momentum indicators remain mostly flat,” and while range trading is likely to persist, the tone appears “slightly softer,” prompting a revised expected range of 0.5725 to 0.5755 for the day ahead.
1–3 Week View
In their broader outlook, the analysts reiterated their neutral stance from last week (17 Oct, spot at 0.5725), saying:
“While the outlook for the NZD remains neutral, a narrower range of 0.5700 to 0.5770 should be sufficient to contain price movements for now.”
