Forex Flash: NZD/USD has good chance' to break 0.8360 this week - BNZ

FXstreet.com (San Francisco) - For NZDUSD, the key level to watch is 0.8360, according to Mike Jones, Currency Strategist at BNZ. He explains in a research note: "While speculative 'long' positioning looks increasingly stretched, NZDUSD momentum is positive and NZ-US relativities are still tilted in favour of NZD appreciation. As a result, we think there is a good chance the 0.8360 level is tested and broken this week. If it is, the 2012 high of 0.8471 would then loom as the next key layer of resistance.

NZDUSD exchanges at 0.8345.