NZDJPY Faces Resistance: Sell on Rallies as Downtrend Favors Bears 
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Source: Thomson Reuters
- USD/BRL firm, by Aug '04 high (3.0770), market expects 1 more 25bp hike in '15
- Brazil '15 inflation 7.77% v 7.47 pvs wk, growth -0.66% v -0.58%
- BCB poll sees more GDP/inflation woes in '15, inflation/growth in '16 expected to improve
- Market eyes June US rate liftoff, sees 1 more 25bp hike in '15
- USD/BRL resistance at 3.0642 61.8% Fib, 3.0850 Jun '04 high, 3.233 May '04 high
- Support lies at 3.0584 21-HMA, 3.04 upper 21-d Bolli (former resistance), 3.0163 50-HMA
