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- NZD/USD: Next upside target located at 0.71 - Westpac
NZD/USD: Next upside target located at 0.71 - Westpac
FXStreet notes that the kiwi is holding steady in the mid-0.70s ahead of key US jobs data. Economists at Westpac highlight a handful of tailwinds for the New Zealand dollar and, therefore, expect the pair to reach the 0.71 level next.
“Wednesday’s break above its two-week-old consolidation range has been sustained, 0.7100 the next upside target.”
“Multi-month, the NZD is supported by the NZ economy’s expected strength over the remainder of this year, the RBNZ’s signalled rate hikes, NZ-US yield spreads, and a positive outlook for NZ commodity prices.”
“Our year-end forecast for NZD/USD is 0.74."
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