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- NZD/USD to fall towards 0.70 in the first quarter of 2021 - DBS Bank
NZD/USD to fall towards 0.70 in the first quarter of 2021 - DBS Bank
FXStreet reports that the NZD/USD pair fell 0.5% to 0.7158 on Monday, below 0.7184 or its end-2020 level for a fourth straight session, and economists at DBS bank expect the kiwi to slide towards the 0.7000 level in the coming months.
“Technically, NZD/USD has been capped at 0.72 but needs to take out its 0.7130 support (50-DMA) before it can test 0.71 or January’s lows again.”
“Ironically, the NZD’s rally stalled after expectations increased for inflation to rise towards the official 2% target by mid-year. The Reserve Bank of New Zealand may, at its meeting on 24 February, rule out more rate cuts.”
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