New Zealand Currency at Continued Risk of Weakness
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Trade Implications – NZDUSD: Until we see a NZDUSD rally above $0.8514, our bias will remain towards Kiwi dollar weakness. And indeed such heavily one-sided sentiment keeps our focus to the downside. The recent spike-low at $0.8350 acts as short-term support.
See next currency section:EURUSD - Euro Likely to Hit Fresh Lows versus Resurgent Dollar
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.