New Zealand Dollar (NZD) is likely to drift lower; any decline is unlikely to reach 0.5740. In the longer run, slight increase in momentum could lead to NZD testing the support at 0.5740, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
NZD can test the support at 0.5740
24-HOUR VIEW: “NZD fell to 0.5763 two days ago before recovering slightly. Yesterday, we held the view that it ‘could retest the 0.5765 level before a more sustained recovery can be expected.’ We indicated that ‘should NZD break above 0.5815, it would mean that the current downward pressure has faded.’ The subsequent price action unfolded differently than what we expected. NZD rose to a high of 0.5818 before dropping to 0.5763. NZD closed lower by 0.28% at 0.5768. Downward momentum has increased slightly, and NZD is likely to drift lower today. Given the mild downward momentum, any decline is unlikely to reach 0.5740. Resistance levels are at 0.5785 and 0.5800.”
1-3 WEEKS VIEW: “We indicated two days ago (11 Dec, spot at 0.5800) that NZD ‘may decline below 0.5770.’ However, we pointed out, ‘it remains to be seen if it can maintain a foothold below this level. Yesterday, NZD fell by 0.28% and closed at 0.5768. The resulting slight increase in momentum could lead to NZD testing the support at 0.6740. At this time, the probability of a sustained break below this level is not high. The mild downward pressure would remain intact as long as 0.5830 (‘strong resistance’ level was at 0.5845 yesterday) is not breached.”
(This story was corrected on December 13 at 13:55 GMT to say that a decline is unlikely to reach support at 0.5740, not 0.6740.)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks

Gold sits at record highs above $3,000 on escalating geopolitical tensions
Gold price is sitting at record highs beyond $3,000 early Tuesday on intensifying geopolitical Middle East tensions. Israel resumes military operations against Hamas in Gaza after the group rejected US proposals for extending ceasefire. Further US-Iran tensions add to the latest leg up in the safe-haven Gold.

EUR/USD defends 1.0900 ahead of German vote on spending plans
EUR/USD bounces off 1.0900 in the European session on Tuesday. Optimism around the German vote on the spending plan and Trump-Putin talks offsets escalating Middle East and trade tensions, fuelling fresh US Dollar weakness while lifting the pair.

GBP/USD rebounds toward 1.3000 on renewed US Dollar selling
GBP/USD bounces back toward 1.3000 in the European trading hours on Tuesday. The pair finds fresh support from a renewed US Dollar selling as investors look past the Middle East tensions, anticipating the US-Russia takls on Ukraine peace deal.

Ethereum consolidates below $2,000 as Standard Chartered alters its prediction for 2025
Ethereum remained just below $2,000 in the Asian session on Tuesday as Standard Chartered's Global Head of Digital Assets Research, Geoffrey Kendrick, updated the bank's 2025 price forecast for ETH.

Five Fundamentals for the week: Fed leads central bank parade as uncertainty remains extreme Premium
Central bank bonanza – perhaps its is not as exciting as comments from the White House, but central banks still have sway. They have a chance to share insights about the impact of tariffs, especially when they come from the world's most powerful central bank, the Fed.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.