Forex: NZD/NZD threatens session lows, around 0.8425
Forex pairs in this Article »
NZD/USD
FXstreet.com (Barcelona) - The kiwi dollar is extending its correction lower on Thursday after hitting session tops around 0.8460
The session continues to be dominated by a profit taking tone in the risk-associated assets, whilst the effects of the Fed's announcements are gradually fading away.
In the opinion of analyst Richard Franulovich at Westpac, "NZ's recovery should gain momentum, leading to the RBNZ hiking rates& Combined with QE pressure on USD, NZDUSD should make a run at the 0.8845 record high".
At the moment, the pair is down 0.12% at 0.8425 with the immediate support at the psychological level at 0.8400 followed by 0.8386 (low Dec.12) and then 0.8357 (high Sep.28).
On the flip side, a break above 0.8460 (high Dec.13) would expose 0.8470 (high Feb.29) and 0.8500 (psychological level).
The session continues to be dominated by a profit taking tone in the risk-associated assets, whilst the effects of the Fed's announcements are gradually fading away.
In the opinion of analyst Richard Franulovich at Westpac, "NZ's recovery should gain momentum, leading to the RBNZ hiking rates& Combined with QE pressure on USD, NZDUSD should make a run at the 0.8845 record high".
At the moment, the pair is down 0.12% at 0.8425 with the immediate support at the psychological level at 0.8400 followed by 0.8386 (low Dec.12) and then 0.8357 (high Sep.28).
On the flip side, a break above 0.8460 (high Dec.13) would expose 0.8470 (high Feb.29) and 0.8500 (psychological level).
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