In opinion of the research team at UOB Group, the pair’s stance is now neutral for the next 1-3 weeks. Key Quotes “The move above the key 0.6750 resistance late last week was clearly a false break as we witnessed a sharp reversal from a high of 0.6775”. “The expectation for further NZD strength was clearly wrong and from here, the outlook is viewed as neutral”. “However, short-term downward momentum is improving but at this stage, any further weakness is likely limited to 0.6500”. For more information, read our latest forex news.