NZD/USD: target 0.7130 and 50% retracement of Feb/Mar decline - Westpac

Ross J Burland FXStreet

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)."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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