NZD/USD bullish, targets 0.70… still – UOB

The research team at UOB Group believes the Kiwi dollar could make an attempt to clinch 0.7000.

Key Quotes

“The week that passed saw NZD/USD touching ten-month high of 0.6966 before easing off to levels around the 0.69-figure. This week, New Zealand’s economic docket is relatively light. The big event for NZD traders will be the GDT dairy auction on Tuesday”.

“There is no change to our bullish NZD view and we continue to target a move to 0.7000. Last Friday’s drop is viewed as a short-term correction/consolidation phase and only a break below 0.6800 would indicate that our bullish view is wrong.