NZD/USD: target below 0.6235 – Westpac

By FXStreet FXStreet (Guatemala) – Imre Speizer, analyst at Westpac explained that they remain bearish on the NZD and target a break below 0.6235 this week.

Key Quotes:

“That would take it to a fresh six-year low (ignoring the blip on 24 Aug) and resume the downtrend. While dairy prices have rebounded from a multi-decade low, global risk aversion and the likelihood the RBNZ will cut the OCR again in December should limit any short term rallies during the weeks ahead to 0.6500.(this weekly update will be published next on 6 October).”
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Source:: FX Street