The New Zealand Dollar is under pressure amid expectations of Ben Bernanke’s speech in Jackson Hole. According to Murray Hindley from ANZ Bank, the markets won’t make a major move till the long-awaited event. The NZ Dollar is no exception.
Another factor for such behavior is the absence of major news from New Zealand. However, he recommends that traders stay alert when the RBNZ publishes its August report.
According to Kimberley Martin, a currency strategist for BNZ FX, speculators are waiting for hits at another round of quantitative easing.
Forex.
According to , the New Zealand Dollar keeps weakening against the US Dollar. The experts report that NZDUSD is forming wave А/В of level Daily.
A further downswing will probably meet support around 0.7992, 0.7965, 0.7928/22. The current bearish move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above 0.8185 (as shown below).
