The New Zealand Dollar (NZD) is expected to trade in a sideways range between 0.6135 and 0.6180. Overbought advance doesn’t appear to be losing steam yet; NZD could potentially reach June’s high of 0.6223, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann notes.

Expected to trade in a sideways range 0.6135/0.6180

24-HOUR VIEW: “NZD traded between 0.6133 and 0.6178 yesterday, closing unchanged at 0.6156. The price action is likely part of a sideways trading phase. Today, NZD is expected to trade between 0.6135 and 0.6180.”