Forex Flash: More consolidation ahead for NZD/USD - BNZ

FXstreet.com (San Francisco) - NZDUSD saw some buying interest Monday, climbing to as high as 0.8105 ahead of the Q3 RBNZ survey of expectations at 03:00 GMT; the central bank is hoping that the 2-year inflation expectations measure drifts down further from last quarter's 2.4%y/y reading, says BNZ. NZDUSD ended the Noram session a 0.8090, 20 pips above the close past Friday.

"There is a fair likelihood the rest of the week is similarly unexciting, as investors await the important events of late August/early September," comments Mike Jones, Currency Strategist at BNZ. "All up, we suspect a light week for event risk and low volumes mean the NZDUSD is in for a bit more sideways consolidation in the near-term. Initial support is eyed at 0.8020, while bounces towards 0.8130 should encounter resistance."