Quotes from Westpac Research:
- NZD/USD 1 day: The 0.7610/20 area will be a major hurdle, so some consolidation can be expected between 0.7500 and 0.7560. Momentum remains positive, though, with potential for another rally during the weeks ahead into the 0.7600-0.7700 area.
- NZD/USD 1-3 month: Multi-month, we see further downside potential, the next major target being 0.7120. Low inflation and adversely affected agricultural production are local negatives. However, most important will be whether the US dollar extends its multi-year rally.
