NZD/USD still bearish near term – UOB

The outlook on the Kiwi dollar remains tilted to the bearish side for the next 1-3 weeks, according to the research team at UOB Group.

Key Quotes

“While we continue to hold a bearish NZD view, the recent price action is not supportive of our view and the odds for a move to our 0.6470 target appears to be rather slim”.

“Overall, a daily closing above 0.6650 is enough to indicate that our bearish expectation is wrong”.