The New Zealand Dollar (NZD) is expected to trade within a tight range against the US Dollar (USD), anticipated to fluctuate between 0.5760 and 0.5800 in the near term. Analysts from UOB Group, Quek Ser Leang and Peter Chia, suggest that while a pullback in the NZD may continue, it is likely to encounter robust support at the 0.5720 level should the exchange rate decline further.
Market dynamics influencing this range-bound trading include investor sentiment and broader economic indicators affecting both the NZD and USD. As traders closely monitor these technical levels, any breach below 0.5720 could signal a more significant downward trend, while a bounce off this support may lead to renewed upward momentum within the specified range.
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Data Source: FX Killer Analysis Team Updated: 2026-01-06 10:50
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.