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19 Mar 2015
NZD/USD could hit 0.7100 by June – Westpac
FXStreet (Edinburgh) - Strategist Imre Speizer at Westpac believes spot could reach the 0.7100 mark in the next months backed by the a stronger USD.
Key Quotes
“The US dollar has started a major downward correction after the FOMC disappointed the bulls, and this will be main influence on NZD/USD during the week/s ahead”.
The pair should re-test the key 0.7600 level, and a break above that is possible. Multi-month, though, the NZD will have some negative local news to contend with”.
“Q1 CPI on 20 April will be near zero, and Q1 and Q2 activity data should reflect the NZ drought. Assuming the US dollar resumes its uptrend, we expect NZD/USD to reach 0.7100 by June”.
Key Quotes
“The US dollar has started a major downward correction after the FOMC disappointed the bulls, and this will be main influence on NZD/USD during the week/s ahead”.
The pair should re-test the key 0.7600 level, and a break above that is possible. Multi-month, though, the NZD will have some negative local news to contend with”.
“Q1 CPI on 20 April will be near zero, and Q1 and Q2 activity data should reflect the NZ drought. Assuming the US dollar resumes its uptrend, we expect NZD/USD to reach 0.7100 by June”.