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NZD/USD potential decline to 0.8300 – Westpac

FXStreet (Edinburgh) - The research team at Westpac Global Strategy Group expects the downside pressure to drag the pair lower to the 0.8300 region.

Key Quotes

“The decline in NZD/USD, which started on 10 July from 0.8836, has resumed. From here we should see a continuation to 0.8300 during the days/weeks ahead”.

“US factors pushing the USD higher are the main explanations, but NZ’s soft economic patch has also contributed (our short term economic data pulse model is currently pointing downwards), as has the RBNZ’s intervention threat voiced in July”.

“We continue to target 0.8200 by year end”.

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