Market news
29.06.2022, 06:55

NZD/USD set to test the 0.62 level – Westpac

NZD/USD broke below a two-week-old contracting range. The kiwi now targets 0.62, economists at Westpac report.

Potential for the NZD to rebound towards 0.68 by end-2022

“Potential for further weakness during the month ahead, 0.62 likely to be tested. If that broke, we’d then target the 0.60 area, which was an area of much congestion in early 2020.” 

“The main drivers of NZD/USD at present are global risk sentiment (proxied by equity prices, for example) and the US dollar (in turn driven by both risk sentiment and yield spreads).”

“During the month ahead, the direction of risk sentiment will be key. But much further ahead, by year-end, assuming sentiment stabilises, there is potential for the NZD to rebound towards 0.68.”

See – NZD/USD: Move lower looks ominous from a technical perspective – ANZ

© 2000-2022. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location