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"Westpac, HSBC on the outlook for kiwi"(2011-11-02)
New Zealandís dollar weakened this week versus its US counterpart as investorsí risk sentiment was affected by the news about the referendum in Greece.
Currency strategists at Westpac believe that NZD/USD will keep declining during the next few weeks moving down to the levels in the $0.7000 area. In their view, support for the pair is situated at $0.7910, while resistance stays at $0.8050.
Analysts at HSBC, however, think that there wonít be any clear trend for kiwi until the FOMC and ECB meetings and US payrolls this week. Itís necessary to note that the specialists donít expect the Fed to trigger the QE3 as there should be a deflationary environment for that.
Chart. Daily NZD/USD
Comment here http://www.fbs.com/analytics/news_markets/view/8994
Sincerely yours, U Malik
Official representative FBS(Best Mini Forex Broker 2010 - 2011)