Markets are pricing 20bp of easing in August, and 42bp by November, implying markets should fall further if our forecasts prove correct.
NZ-US yield spreads have explained much of the NZD’s recent gains, but they should soon become a headwind: markets have priced in plenty for the Fed (100bp) but arguably not enough for the RBNZ.
Technically, NZD/USD’s 3c rise since May looks corrective, and may be giving way to a revisit of May’s 0.6500 low.”
Above is the link to the original article. Shall there be any updates i will post them in the thread below.
INSTANT ENTRY AT AROUND: 0.6700 LEVEL
STOP LOSS: 0.68000
TAKE PROFIT: 0.65000