NZD/USD: what is in store, more downside?

By FXStreet FXStreet (Guatemala) – NZD/USD is a touch off the lows and is attempting to recover from the lowest point since October 2015 business. The antipodeans are getting the brunt of dollar strength in a cautious market place where stocks and oil are driving investors to panic stations, instigated by China at the start of the year and the stock crisis.

While there has been some stability in the Yuan fixing and it appearing that we may have seen the worst of the rout in the stocks for the time being, the bird is still unable to fend of the bears and the downside is wide open towards 0.62 on a break below the 0.64 handle. The key events to come are the Q4 CPI on thursday next week as well as the GDT price index again.

NZD/USD outlook: not looking very positive – Westpac

Technically, the analysts at Westpac are holding a bearish outlook for the bird. “Bias: We hold a negative bias across all horizons out to three months. Momentum is negative and a break below our week-ahead target of 0.6430 should then pave the way to 0.62 multi month.”

The November lows of 0.6428 were breached …read more

Source:: FX Street