Major Weakness Ahead Across The Board
The NZD looks to be forming a topping pattern which should give way to severe weakness in line with what we have seen in other commodity currencies in recent quarters. Stiff resistance stands at US$0.8500/NZD, which we expect to hold, while a break below US$0.8100/NZD would likely trigger intense selling pressure.
|Impressive Run Nearing An End|
|New Zealand - NZD Trade Weighted Indices|