FXStreet reports that in opinion of FX Strategists at UOB Group, NZD/USD could shed further ground and shift the attention to sub-0.7100 levels in the near-term.

Next 1-3 weeks: “We highlighted yesterday that the recent positive phase has ended and the near-term bias is on the downside. We added, ‘any weakness is viewed as part of a 0.7130/0.7270 range’. While there is no change in our view, we did not quite expect the sharp drop of -1.09% (NY close of 0.7160). Downward momentum has improved and would continue to improve as long as 0.7250 is not taken out. Looking ahead, a clear break of 0.7130 would shift the focus to 0.7080.”