NZD/USD: targetting nov 2015 lows, 0.6430 – Westpac

By FXStreet FXStreet (Guatemala) – Analysts at Westpac explained that they are negative on the NZD/USD.

Key Quotes:

“But with two negative signals rather than a complete trifecta (the model is neutral) we add NZD shorts on strength. Sell NZD at 0.6660 with a stop at 0.6730.”

“The recent slide in NZD$ should extend in the week ahead, our near term target 0.6430 – the Nov 2015 lows.

The atmospherics on China and a 4%+ fall in the first GDT auction for 2016 raise downside risks to Fonterra’s $4.60p/kg payout to the downside.”
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Source:: FX Street