NZD/USD likely to consolidate in the 0.6875- 0.7000 area - Westpac

According to Imre Speizer, Research Analyst at Westpac, further consolidation in the 0.6875- 0.7000 area for NZD/USD pair is expected during the week ahead, which mostly reflects a stretched USD rally, as the USD likely to be the dominant driver of the pair during the weeks ahead.

Key Quotes

“Futures speculator positioning was extremely long in March, but has been reduced significantly since then and is now neutral.”

“Longer term, we remain comfortable with our year-end forecast of 0.67, which is based on expected further rises in US interest rates.”