FXstreet.com (Barcelona) - The NZD/USD has rocketed upwards this morning during European trading, as the kiwi becomes the latest currency to advance against the greenback. Having peaked at a daily maximum of 0.8190, the pair has consolidated its gains at 0.8174, which nets a gain of +0.40% on the day.
According to the NAB Analyst team, “As speculation regarding further quantitative easing from the Fed is renewed we see the NZD/USD finding eventual support and backing. Despite the volatility associate with the currency and the upcoming events, over the medium term we see the NZD/USD supported by relative growth and interest rate differentials, and maintain a year-end target of 0.8200.”
Briefing the technicals, Commerzbank Analysts point to short-term resistance at 0.8224 and then 0.8319, which should continue to cap and eventually provoke a reversal.
According to the NAB Analyst team, “As speculation regarding further quantitative easing from the Fed is renewed we see the NZD/USD finding eventual support and backing. Despite the volatility associate with the currency and the upcoming events, over the medium term we see the NZD/USD supported by relative growth and interest rate differentials, and maintain a year-end target of 0.8200.”
Briefing the technicals, Commerzbank Analysts point to short-term resistance at 0.8224 and then 0.8319, which should continue to cap and eventually provoke a reversal.
