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NZD/USD: short ahead of Nonfarm Payrolls - BNZ

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 5, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at BNZ are bearish on NZD/USD from 0.6610 looking for a target of 0.6200 and with a tight stop at 0.6700.

    Key Quotes:

    "Looking across the G10 FX space, it is clear the broader USD has found some support in recent days. We remain constructive on the USD heading into 2016, and decidedly so against NZD. Our end-of-year NZD/USD target of 0.62 offers a 6% gain from current levels."

    "We’ve long suggested that levels above 0.66 on NZD/USD are attractive for strategic short positions, but stood back through October’s run up.

    Heading into tonight’s US non-farm payrolls report, with survey data suggesting a strong outturn, we enter a short position at 0.6610, with a target of 0.6200."
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