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NZD/USD: Recovery meets some selling circa 0.7850

FXStreet (Bali) - NZD/USD sported a decent recovery from levels below 0.78 on Thursday, following a double whammy of negative news the previous day, with the upward correction finding topside opposition circa 0.7850 after a counter intuitive reaction a better-than-expected US GDP headline.

According to Jim Langlands, Founder at FXCharts: "Further short term gains now look possible, to further resistance seen at the 100 HMA (0.7875) and the 200 HMA (0.7895). The downside looks well supported today at 0.7825 and then at 0.7800. A choppy but rather directionless session looks to be in store, but the medium term strategy of selling into strength, looking for an eventual return to 0.7707."

BoJ preview: Downgrade in economy, inflation to sustain QQE prospects into 2015 - Nomura

According to Yujiro Goto, FX Strategist at Nomura, while BOJ easing expectations remain low for this year, expected downgrades in the Japanese economy and inflation forecasts today, should sustain market expectations for BOJ easing into next year.
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