NZD/USD: New Zealand dollar is at risk of heading further south
|NZD/USD: New Zealand dollar is at risk of heading further south
The NZ dollar has been on a long month decline and has no signs of any changes to its current direction. "The main factors for each decline are dovish RBNZ. declining commodity prices and simmering trade war", Westpack says.
The NZ dollar needs to hold above 0.64090 to stop the bleeding. It could continue to its next support at around 0.63570 support if it fails at 0.60490
There are a few activities to keep an eye on this week calender which could move the NZ dollar.
- The New Zealand retail sales data
- FOMC minutes in the U.S. and a global gathering of central bank heads in Jackson Hole
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