NZD/USD: what do analysts expect?
Analysts at SEB Bank expect the 0.8670 mark to temper the buying spree for a while. Any dip from here should be cushioned around 0.8580 and an opportunity for more buyers to enter. A high session close today would post a threat to topside orders at 0.8695, 0.8730 & 0.8779. In the medium term analysts stay bullish on the pair.
Meanwhile, strategists at Commerzbank stay skeptic on the RBNZ easing measures and expect the momentum to slow after hitting 0.8650 on Thursday. “A slowing PMI and low food prices might dampen the euphoria tomorrow following the rate decision, allowing 0.8700 to cap”, analysts say. In their view, the regulator may change its hawkish stance quickly, already on the next meeting.
Chart. Daily NZD/USD