Westpac recommends to buy dips in NZD/USD to 0.6620 with a stop at 0.6550.
Key Quotes
"Look to buy dips in NZD/USD to
0.6620 with a stop at 0.6550. Our process remains constructive NZD, even as risk
assets have traded poorly after China's easing last week."
"The stall in
dairy prices last week only slightly damaged the NZD and it has managed to
remain inside a 0.6700-0.6900 consolidation range. The RBNZ may give the NZD a
slight lift this week within that range."
"Over the next month, we see
scope for NZD/USD to rise above 0.6900, helped by a decent NZ economic data
pulse and a contrasting soggy US data pulse."
NZD/USD 2015-10-28T03:15:00
0.67328/0.67346 (0.0311864205414%)
H0.67365 L0.67335 ,
Trend: Bearish
OS/OB: Over Sold
