The New Zealand Dollar (NZD) is likely to remain range-bound in the short term, with expected movement between 0.5720 and 0.5760, according to FX analysts Quek Ser Leang and Peter Chia from UOB Group. In the broader outlook, the analysts maintain a neutral stance, forecasting the NZD to fluctuate between 0.5685 and 0.5770 for now.
Short-Term Outlook (24-Hour View)
The NZD/USD pair climbed to a high of 0.5751 two days ago. Yesterday, when the price hovered around 0.5745, UOB analysts noted that while the Kiwi showed strength, there was no solid momentum to suggest a strong bullish breakout. However, they anticipated a slightly higher trading range of 0.5725–0.5755.
The NZD later dipped to a low of 0.5710 before recovering to close nearly flat at 0.5743, down just 0.04% on the day. With no clear directional signals emerging, analysts now expect the pair to remain steady within a narrow range of 0.5720 to 0.5760 in the near term.
Medium-Term Outlook (1–3 Weeks)
UOB shifted to a neutral outlook for the NZD last Friday (October 17), when the currency was trading around 0.5725. At the time, analysts observed that downward pressure had eased, suggesting the currency would likely move sideways in the 0.5685 to 0.5770 range.
That view remains unchanged, with no strong momentum in either direction.
