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12 Apr 2013
Forex Flash: Risk of NZD/USD hitting 0.90 grows - BNZ
FXstreet.com (Barcelona) - Technical indicators suggest the NZD/USD is “overbought”, says Mike Jones, Currency Strategist at Bank of New Zealand, who suggests "we may see some week end profit taking drag the NZD/USD back towards 0.8600 today."
Mike adds: "In the absence of any disruption to offshore risk sentiment, we expect the uptrend in the NZD/USD to continue. The risk we first identified in early February of the NZD/USD hitting 0.9000 continues to grow. There is little topside resistance ahead of 2011’s 0.8850 post-float high."
Mike adds: "In the absence of any disruption to offshore risk sentiment, we expect the uptrend in the NZD/USD to continue. The risk we first identified in early February of the NZD/USD hitting 0.9000 continues to grow. There is little topside resistance ahead of 2011’s 0.8850 post-float high."