FXStreet (Guatemala) – Imre Speizer, analysts at Westpac Banking Corporation explained that the next major target area is 0.62, a level which provided support during the middle of 2009.
Key Quotes:
“If that gave way, we would target 0.60. The two main factors expected to contribute to NZD/USD weakness during the next few months are RBNZ easing (we expect the OCR to fall to 2.5% by year end and eventually to 2.0%) and eventual Fed tightening.”
“The RBNZ has opened the door to an OCR below 2.5%, courtesy of its “downside scenario” discussion in the September Monetary Policy Statement, China and drought risks being major concerns.”
(Market News Provided by FXstreet)