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NZD/USD: targetting nov 2015 lows, 0.6430 - Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Analysts at Westpac explained that they are negative on the NZD/USD.

    Key Quotes:

    "But with two negative signals rather than a complete trifecta (the model is neutral) we add NZD shorts on strength. Sell NZD at 0.6660 with a stop at 0.6730."

    "The recent slide in NZD$ should extend in the week ahead, our near term target 0.6430 - the Nov 2015 lows.

    The atmospherics on China and a 4%+ fall in the first GDT auction for 2016 raise downside risks to Fonterra's $4.60p/kg payout to the downside."
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