NZD/USD: target 0.7130 and 50% retracement of Feb/Mar decline - Westpac
|Analysts at Westpac offered their outlook for NZD/USD.
Key Quotes:
"NZD/USD 1 day: The next upside target is 0.7130 (50% retracement of Feb/Mar decline).
NZD/USD 1-3 month: The Fed’s tightening cycle plus US fiscal expansion should maintain upside pressure on US interest rates and the US dollar, pushing NZD/USD down to 0.6900 or lower. Additional, and more recent, negative factors have been weaker dairy prices plus the RBNZ’s emphatic reminders it is on hold for a long time. (8 Mar)."
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