The analytic team of Westpac shares the bearish outlook for the New Zealand Dollar prospects. According to the bank’s weekly analysis, the NZ Dollar is under the pressure caused by the Greek crisis and the economic slowdown in China. The bank is going to open another short trade after a recovery up to 0.8000.
In the meantime, according to , NZDUSD continues its downtrend. The currency is in the process of forming wave 3 or С inside А(С)/С of wave level Daily2. The closest levels of support are 0.7632, 0.7502, 0.7486 and 0.7460. The downtrend will be completed if the price consolidates above 0.8233 (as shown below):
