Analysts at Westpac are recommending to sell NZD/USD pair at 0.6705 levels for the target price of 0.6500, while maintaining trailing a stop loss of 0.6800.
Key Quotes
“Rationale:
*Markets are pricing 20bp of easing in August, and 42bp by November, implying markets should fall further if our forecasts prove correct.
*NZ-US yield spreads have explained much of the NZD’s recent gains, but they should soon become a headwind: markets have priced in plenty for the Fed (100bp) but arguably not enough for the RBNZ.
*Technically, NZD/USD’s 3c rise since May looks corrective, and may be giving way to a revisit of May’s 0.6500 low.”
fxstreet.com/news/sell-nzd-usd-at-06705-westpac-201907250853
Above is the link to the original article. Shall there be any updates i will post them in the thread below.
INSTANT ENTRY AT AROUND: 0.6700 LEVEL
STOP LOSS: 0.68000
TAKE PROFIT: 0.65000
RR: 1:1.9
TYPE: SHORT
Key Quotes
“Rationale:
*Markets are pricing 20bp of easing in August, and 42bp by November, implying markets should fall further if our forecasts prove correct.
*NZ-US yield spreads have explained much of the NZD’s recent gains, but they should soon become a headwind: markets have priced in plenty for the Fed (100bp) but arguably not enough for the RBNZ.
*Technically, NZD/USD’s 3c rise since May looks corrective, and may be giving way to a revisit of May’s 0.6500 low.”
fxstreet.com/news/sell-nzd-usd-at-06705-westpac-201907250853
Above is the link to the original article. Shall there be any updates i will post them in the thread below.
INSTANT ENTRY AT AROUND: 0.6700 LEVEL
STOP LOSS: 0.68000
TAKE PROFIT: 0.65000
RR: 1:1.9
TYPE: SHORT
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.