9 Mar 2015
NZD/USD: Downside opened up on soft NZ outlook also
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7350 with a high of 0.7376 and a low of 0.7345.
NZD/USD has been on the offer and breaking down through the near term rising support line from down at 0.7180 territory at the start of February. The US dollar is strong again on the basis of the end of last week's consensus beating Nonfarm Payrolls yet again and brings back the bearish direction of the pair. Imre Speizer, analyst at Westpac Banking Corporation ABN suggested that the next major target is 0.7120. "But as long as the US dollar’s uptrend remains intact."
"The catalysts for this are expected to be soft NZ data approaching mid-year, and US dollar strength continuing, NZ CPI for Q1, which prints in April, will probably be near zero, and Q2 will be similar."
NZD/USD has been on the offer and breaking down through the near term rising support line from down at 0.7180 territory at the start of February. The US dollar is strong again on the basis of the end of last week's consensus beating Nonfarm Payrolls yet again and brings back the bearish direction of the pair. Imre Speizer, analyst at Westpac Banking Corporation ABN suggested that the next major target is 0.7120. "But as long as the US dollar’s uptrend remains intact."
"The catalysts for this are expected to be soft NZ data approaching mid-year, and US dollar strength continuing, NZ CPI for Q1, which prints in April, will probably be near zero, and Q2 will be similar."