According to HiFX, the forthcoming dynamics of the New Zealand Dollar will depend on the Fed’s decision to taper its accommodative policies. At the same time, the statements made by New Zealand’s top-ranking officials are still supporting the national currency.
The RBNZ report that the New Zealand Dollar remains overvalued. At the same time, the central bank is convinced that currency interventions are unlikely to expert enough pressure on the market. At this point, NZDUSD is trading above the 0.8180 support. A break below it will give way to a deeper decline, HiFX experts assume.
According to Masterforex-V Academy, the New Zealand Dollar keeps weakening against the US Dollar. The experts report that NZDUSD is forming wave А/В of level Daily3.
A further downswing will probably encounter resistance around 0.8078, 0.8034/24, 0.7935/19. The current bearish move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above 0.8392. (as shown below).
