NZD/USD is neutral for now – UOB Group

The outlook for New Zealand Dollar (NZD) is neutral now, and it is likely to trade in a range between 0.5685 and 0.5770, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

NZD/USD is likely to trade between 0.5685 and 0.5770

24-HOUR VIEW: "NZD rose to high of 0.5751 yesterday, and then closed at 0.5745 (+0.34%). Despite the advance, there has been no clear increase in upward momentum. That said, the firmer underlying tone suggest NZD is likely to trade in a higher range of 0.5725/0.5755 today."

1-3 WEEKS VIEW: "Our update from last Friday (17 Oct, spot at 0.5725) is still valid. As highlighted, 'downward pressure has eased, and we are neutral on NZD now.' For the time being, we expect NZD to 'trade in a range between 0.5685 and 0.5770'."