13 Jan 2016
NZD/USD: targetting nov 2015 lows, 0.6430 - Westpac
FXStreet (Guatemala) - Analysts at Westpac explained that they are negative on the NZD/USD.
Key Quotes:
"But with two negative signals rather than a complete trifecta (the model is neutral) we add NZD shorts on strength. Sell NZD at 0.6660 with a stop at 0.6730."
"The recent slide in NZD$ should extend in the week ahead, our near term target 0.6430 - the Nov 2015 lows.
The atmospherics on China and a 4%+ fall in the first GDT auction for 2016 raise downside risks to Fonterra's $4.60p/kg payout to the downside."
Key Quotes:
"But with two negative signals rather than a complete trifecta (the model is neutral) we add NZD shorts on strength. Sell NZD at 0.6660 with a stop at 0.6730."
"The recent slide in NZD$ should extend in the week ahead, our near term target 0.6430 - the Nov 2015 lows.
The atmospherics on China and a 4%+ fall in the first GDT auction for 2016 raise downside risks to Fonterra's $4.60p/kg payout to the downside."