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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."

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