NZD/USD: can the bird get above 0.7280 and close with higher highs?
|Currently, NZD/USD is trading at 0.7263, down -0.01% on the day, having posted a daily high at 0.7269 and low at 0.7262.
Market Wrap: US dollar index is unchanged on the day - Westpac
NZD/USD was a choppy bid overnight, consolidated so far in today's early Asian session ahead of the Tokyo open. The dollar was basing for the day but the relief in that the RBNZ did not spring a dovish surprise yesterday lifted the Kiwi but analysts at Westpac suggested that it should be capped by 0.7300 today.
NZD/USD 1-3 month:
The analysts at Westpac explained that the Fed’s tightening cycle plus US fiscal expansion should eventually reassert upside pressure on US interest rates and the US dollar, pushing NZD/USD below 0.6800 by year end. "US factors should outweigh local factors which are mostly supportive."
NZD/USD levels
NZD/USD managed a score through the 0.7250 mark again but still falls shy of the key 0.7280 upside target. To the downside, 0.7200 guards 0.7145 and a break back below 0.7080/90 are key near-term downside areas. On the wide, the 0.7375 YTD highs are a key target to the upside and to the downside, a break below 0.7080/00 opens 0.6970.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.