NZD/USD Outlook: Down this week
Expectations the RBNZ will signal a pause in June should continue to weigh on NZD/USD until 12 June. NZD/USD has broken a key level with bearish implications. Neckline support at 0.8525 broke last week, technically signalling a move to around 0.8300. Markets are likely to persist with their skepticism regarding the RBNZ’s tightening cycle, right up to the 12 June MPS. In addition, a recently resurgent US dollar will continue to weigh on the pair. The USD index should extend its current uptrend this week as ECB easing expectations continue to foment into their June 5 meeting.
Read the full report: FX Research
Westpac