19 Jun 2015
NZD/USD bears taking conrtol in to the week's close
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6899 with a high of 0.6940 and a low of 0.6889.
NZD/USD is closing the week in the hands of the bears, with the downside pressures that developed circa 0.6980 taking effect and a close below the 0.69 handle that is leaving an appetite for the bird very thin, regardless of the FOMC's recent adjustment of their funding rate forecasts by 25 basis points.
Bears are riding the RBNZ's surprise cut from last week still, as well as this week's release of GDP where New Zealand Gross Domestic Product (QoQ) came way below forecasts (0.6%) in 1Q: Actual (0.2%) while New Zealand Gross Domestic Product (YoY) came in at 2.6%, below expectations (3%) in 1Q.
NZD/USD 2010 lows still in focus
The bird's bears still have 0.6800 in focus should the downside be extended and this will be challenging June 2010 lows of 0.6793.
NZD/USD is closing the week in the hands of the bears, with the downside pressures that developed circa 0.6980 taking effect and a close below the 0.69 handle that is leaving an appetite for the bird very thin, regardless of the FOMC's recent adjustment of their funding rate forecasts by 25 basis points.
Bears are riding the RBNZ's surprise cut from last week still, as well as this week's release of GDP where New Zealand Gross Domestic Product (QoQ) came way below forecasts (0.6%) in 1Q: Actual (0.2%) while New Zealand Gross Domestic Product (YoY) came in at 2.6%, below expectations (3%) in 1Q.
NZD/USD 2010 lows still in focus
The bird's bears still have 0.6800 in focus should the downside be extended and this will be challenging June 2010 lows of 0.6793.