Buy dips in NZD/USD – Westpac

By FXStreet FXStreet (Bali) – Westpac recommends to buy dips in NZD/USD to 0.6620 with a stop at 0.6550.

Key Quotes

“Look to buy dips in NZD/USD to 0.6620 with a stop at 0.6550. Our process remains constructive NZD, even as risk assets have traded poorly after China’s easing last week.”

“The stall in dairy prices last week only slightly damaged the NZD and it has managed to remain inside a 0.6700-0.6900 consolidation range. The RBNZ may give the NZD a slight lift this week within that range.”

“Over the next month, we see scope for NZD/USD to rise above 0.6900, helped by a decent NZ economic data pulse and a contrasting soggy US data pulse.”
For more information, read our latest forex news. …read more

Source:: FX Street