NZD/USD: Potential for a rebound to the 0.7000- 0.7050 area - Westpac

NZD/USD has fallen over 5 cents since mid-April and is now slightly stretched from a technical perspective and there is potential for a rebound to the 0.7000- 0.7050 area during the week ahead, if the US dollar stalls, according to Imre Speizer, Research Analyst at Westpac.

Key Quotes

“Market pricing for the RBNZ has now stabilised, and we don’t expect any ground-breaking economic news during the week ahead. Against that, there is still long futures speculator positioning to be cleared.”

“Longer term, we remain comfortable with our year-end forecast of 0.68, which is based on expected further rises in US interest rates.”

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 securities. 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 Forex 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.