NZD/USD Likely to Remain Range-Bound Between 0.5970 and 0.6080

Kiwi Dollar Enters Consolidation Phase

The New Zealand Dollar (NZD) is expected to trade within a defined range between 0.5970 and 0.6080, as upward momentum has diminished, according to technical outlooks. With Friday’s downside move failing to breach key support levels, the pair rebounded modestly, indicating a potential range-trading phase for the short term.

Short-Term View: Stable Within 0.6000–0.6050

Market participants had anticipated a deeper correction on Friday, but NZD/USD recovered from a low of 0.5998, invalidating the bearish outlook. Analysts now foresee intraday movement in a slightly higher band of 0.6000 to 0.6050, driven by a neutral tone in broader currency markets and limited directional catalysts.

1–3 Weeks Outlook: Upward Pressure Eases

Following a positive trend for over a week, strategists shifted their stance to neutral as of June 13, with the pair trading at 0.6025 at that time. The broader forecast range is now defined at 0.5970 on the lower bound and 0.6080 as short-term resistance, reflecting a lack of bullish conviction.

Key Levels to Watch:

• Support: 0.5995 and 0.5970
• Resistance: 0.6050 and 0.6080
• Trend Bias: Neutral
• Next Major Move: Likely dependent on US macro data or risk sentiment shifts

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