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8 Jun 2015
NZD/USD downside target at 0.6950 – Westpac
FXStreet (Barcelona) - Impre Speizer of Westpac notes that with NZD/USD having broken below key levels last week, the mood remains bearish for the pair.
Key Quotes
“The NZD/USD broke below some key levels last week and remains in a bearish mood. The main factors are a stronger US dollar and expectations the RBNZ will ease.”
“The next downside target is 0.6950 and there are two events which may catalyse the move to that level. If US retail sales beats expectations, the US dollar should rise and NZD/USD will fall. If the RBNZ on Thursday signals rate cuts are imminent, NZD/USD should fall.”
Key Quotes
“The NZD/USD broke below some key levels last week and remains in a bearish mood. The main factors are a stronger US dollar and expectations the RBNZ will ease.”
“The next downside target is 0.6950 and there are two events which may catalyse the move to that level. If US retail sales beats expectations, the US dollar should rise and NZD/USD will fall. If the RBNZ on Thursday signals rate cuts are imminent, NZD/USD should fall.”