NZD/USD bulls move in and target a break above 0.6365 NZDUSD DollarIndex Fed RBNZ CentralBanks
said in comments day made at The Economic Club of Washington, D.C. Signature Event that he expects 2023 to be a year of significant declines in inflation.
Nevertheless, the greenback remains on the back foot technically and the high beta currencies such as the Kiwi have enjoyed a bounce in USon Tuesaday following a series of down days since the NFP report. The US economy added 517K jobs in January, the most since July and much more than market expectations of 185K.
As for the direction for the Bird, analysts at ANZ Bank wrote in a note on Wednesday that they upgraded their NZD forecasts – ''we now see it reaching 0.65 in Q3, 0.67 in Q4, and 0.68 by the fourth quarter next year''.NZD/USD could be headed for a bullish correction given that it closed green on Monday, with prospects of a move into in-the-money shorts from Friday's selloff. We have a double bottom under last week's lows and bulls are moving in on those lows at around 0.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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