Back
14 Jun 2013
Flash: NZD/USD targets year-end of 0.8300 – BNZ
FXstreet.com (New York) - According to the BNZ Research Team, “Our momentum model shows negative momentum in the NZD and its trans-Tasman cousin remains intact.”
Moreover, our model entered a short NZD/USD position on 8 May at 0.8361 and has now returned 5%. The trailing stop on the trade now sits at 0.8125.
“That said, we continue to look for the NZD/USD to find its feet. Our end-year NZD/USD is 0.8300. This has been revised lower from 0.8500 previously. Our key premise that the NZD remains well supported by domestic fundamentals (growth and interest rate differentials and NZ commodity prices) has not changed.” the team adds.
Moreover, our model entered a short NZD/USD position on 8 May at 0.8361 and has now returned 5%. The trailing stop on the trade now sits at 0.8125.
“That said, we continue to look for the NZD/USD to find its feet. Our end-year NZD/USD is 0.8300. This has been revised lower from 0.8500 previously. Our key premise that the NZD remains well supported by domestic fundamentals (growth and interest rate differentials and NZ commodity prices) has not changed.” the team adds.