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24 Sep 2014
NZD/USD potential drop to 0.8000 – Westpac
FXStreet (Edinburgh) - Strategists at Westpac see the pair hitting the key barrier at 0.8000 within the next month.
Key Quotes
“NZD/USD’s negative momentum remains intact”.
“Broad US dollar strength should keep the pair on the back foot during the week ahead, as should the possibility of another reduction to the milk payout forecast by Fonterra”.
“We continue to target 0.8000 during the month ahead, with the main risk to this view being a corrective dip in the stretched US dollar”.
Key Quotes
“NZD/USD’s negative momentum remains intact”.
“Broad US dollar strength should keep the pair on the back foot during the week ahead, as should the possibility of another reduction to the milk payout forecast by Fonterra”.
“We continue to target 0.8000 during the month ahead, with the main risk to this view being a corrective dip in the stretched US dollar”.