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25 Feb 2015
NZD/USD: Consolidating before a drop?
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7554 with a high of 0.7563 and low of 0.7474.
NZD/USD is consolidating the rally from 0.7440 and holds the greenback down on a second testimony from Yellen today, repeating the same tune as yesterdays, so nothing new here and we are still on the theme of patience. Meanwhile, over the medium term, there remains potential for NZD/USD to fall further. Analysts at Westpac Banking corporation explained that the next major target is 0.7120, but as long as the US dollar’s uptrend remains intact, even lower is possible. "Note also that NZ CPI for Q1 (which prints in April) will probably be near zero."
NZD/USD is consolidating the rally from 0.7440 and holds the greenback down on a second testimony from Yellen today, repeating the same tune as yesterdays, so nothing new here and we are still on the theme of patience. Meanwhile, over the medium term, there remains potential for NZD/USD to fall further. Analysts at Westpac Banking corporation explained that the next major target is 0.7120, but as long as the US dollar’s uptrend remains intact, even lower is possible. "Note also that NZ CPI for Q1 (which prints in April) will probably be near zero."