11 Mar 2015
NZD/USD: Break of 0.7315 targets 0.72 - Westpac
FXStreet (Bali) - Westpac expects the 0.7315 break in NZD/USD to be sustained for a target of 0.7200.
Key Quotes
"Our views on NZD have undergone a significant shift this last week. The recent multi-week rally came to an abrupt end on Thursday last week and the near term outlook is now negative. We expect the 0.7315 break to be sustained this week, and pave the way towards 0.7200."
"Technically, we are targeting 0.7150. Were it not for our long model signal (NZD has the highest total yield in the G10 and one of the strongest growth signals too) we would be short here."
Key Quotes
"Our views on NZD have undergone a significant shift this last week. The recent multi-week rally came to an abrupt end on Thursday last week and the near term outlook is now negative. We expect the 0.7315 break to be sustained this week, and pave the way towards 0.7200."
"Technically, we are targeting 0.7150. Were it not for our long model signal (NZD has the highest total yield in the G10 and one of the strongest growth signals too) we would be short here."