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NZD/USD: bids possibly stacked at 0.6620

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at Westpac suggested to look to buy dips in NZD/USD to 0.6620 with a stop at 0.6550.

    Key Quotes:

    "Our process remains constructive NZD, even as risk assets have traded poorly after China's easing last week. The stall in dairy prices last week only slightly damaged the NZD and it has managed to remain inside a 0.6700-0.6900 consolidation range. The RBNZ may give the NZD a slight lift this week within that range. Over the next month, we see scope for NZD/USD to rise above 0.6900, helped by a decent NZ economic data pulse and a contrasting soggy US data pulse."
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