1 Dec 2014
NZD/USD extends recovery above 0.7850
FXStreet (Córdoba) - NZD/USD bottomed during the Asian session at 0.7775 but since then has risen more than a hundred pips. Recently reached 0.7883, the strongest level since last Thursday.
Ahead of the beginning of the American session remains near the highs, as the US dollar falls across the board. The kiwi is among the best performers in the currency market on Monday.
NZD/US long term view
The pair finished November with modest losses, around the same level it closed in October and September. The kiwi has been consolidation but still holds a bearish bias on a wider perspective.
“Over the medium term, there remains potential for NZD/USD to fall to 0.7500 by February. The USD uptrend remains strong as the Fed approaches policy liftoff. NZ dairy prices are expect to fall further while global supply remain high”, wrote Imre Speizer, Analyst at Westpac.
Ahead of the beginning of the American session remains near the highs, as the US dollar falls across the board. The kiwi is among the best performers in the currency market on Monday.
NZD/US long term view
The pair finished November with modest losses, around the same level it closed in October and September. The kiwi has been consolidation but still holds a bearish bias on a wider perspective.
“Over the medium term, there remains potential for NZD/USD to fall to 0.7500 by February. The USD uptrend remains strong as the Fed approaches policy liftoff. NZ dairy prices are expect to fall further while global supply remain high”, wrote Imre Speizer, Analyst at Westpac.