OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: Risk of NZD/USD hitting 0.90 grows - BNZ

FXstreet.com (Barcelona) - Technical indicators suggest the NZD/USD is “overbought”, says Mike Jones, Currency Strategist at Bank of New Zealand, who suggests "we may see some week end profit taking drag the NZD/USD back towards 0.8600 today."

Mike adds: "In the absence of any disruption to offshore risk sentiment, we expect the uptrend in the NZD/USD to continue. The risk we first identified in early February of the NZD/USD hitting 0.9000 continues to grow. There is little topside resistance ahead of 2011’s 0.8850 post-float high."

Forex: Kiwi surpasses 0.8600, is a run at 0.8800 in the cards?

The Kiwi continued its march higher during the New York session, finishing up 42 pips at 0.8630. Intra-day the pair traded as high as 0.8676, but was unable to sustain its bid at those levels and leaked lower later in the day. The pair is now up an impressive 2.44% on the week, and 3.7% MTD for April. The economic calendar is light with only the Food Price Index being released at (22:45 GMT).
Read more Previous

New Zealand Mar Food Price Index (MoM) declines to -1.3% vs -0.3%

Read more Next
Start livechat