NZD/USD: Bullish for the week ahead, likely to target 0.7250 - Westpac

Imre Speizer, Research Analyst at Westpac, suggests to remain bullish on NZD/USD for the week ahead, targeting 0.7250 (the minor peaks seen in Feb). 

Key Quotes

“The US dollar continues to soften, NZ fundamentals remain strong (reaffirmation likely next Thu), global risk appetite remains elevated, speculators’ short NZD positions are being unwound, and NZD/USD slightly undervalued.”

“Multi-month, though, if the US dollar resumes 2016’s trend rise, NZD/USD will be closer to 0.68 by year end.”