29 Aug 2013
Flash: NZD/USD primed for fall to 0.7685 – Westpac
FXstreet.com (New York) - The NZD/USD remains poised to test the bottom of a two-month range at 0.7685, warns Sean Callow, a Global FX Strategist at Westpac.
Key quotes
“A break below this would then target the low 0.70’s. Fed tapering remains the main factor here so that a start at the Sep FOMC is probably required keep our bearish NZD/USD outlook intact.”
Moreover, “NZ fundamentals remains supportive but there are no major data releases until the RBNZ’s MPS on 12 September.”
Key quotes
“A break below this would then target the low 0.70’s. Fed tapering remains the main factor here so that a start at the Sep FOMC is probably required keep our bearish NZD/USD outlook intact.”
Moreover, “NZ fundamentals remains supportive but there are no major data releases until the RBNZ’s MPS on 12 September.”