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      NZD/USD: major target 0.62 area - Westpac

      FXStreet (Guatemala) - Imre Speizer, analysts at Westpac Banking Corporation explained that the next major target area is 0.62, a level which provided support during the middle of 2009.

      Key Quotes:

      "If that gave way, we would target 0.60. The two main factors expected to contribute to NZD/USD weakness during the next few months are RBNZ easing (we expect the OCR to fall to 2.5% by year end and eventually to 2.0%) and eventual Fed tightening."

      "The RBNZ has opened the door to an OCR below 2.5%, courtesy of its “downside scenario” discussion in the September Monetary Policy Statement, China and drought risks being major concerns."

      EUR/JPY languishes near lows, keeps range post Japan’s CPI

      The cross in the EUR/JPY keeps pushing lower in early Asia, after plummeting sharply in opening trades, as the latest hawkish comments from Fed Chair Yellen boosted the USD bulls.
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      AUD/USD stalls post-Yellen recovery, wavers above 0.7000

      The AUD/USD pair halted its recovery from Yellen’s speech-led gap down opening and fell back in the red zone, now hovering just ahead of 0.70 handle.
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