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NZD/USD: Technically oversold - Westpac

NZD/USD fell sharply over the past fortnight, due to a sharp rise in the US dollar and its 4c fall leaves it slightly technically oversold, which means further losses towards 0.6900 during the weeks ahead will probably be at a slower pace, according to Imre Speizer, Reseach Analyst at Westpac.

Key Quotes

“Also weighing on the NZD is long speculator positioning which should be pared given the US dollar/interest rate relationship is being restored.”

“Against that, there’s the risk that the RBNZ’s stance could shift slightly in a hawkish direction next week.”

“All the above leaves us with a cautious bearish bias for the week ahead.”

EUR/USD now sidelined below 1.20 ahead of US docket

The single currency keeps the positive note intact so far today and is now taking EUR/USD to the area of 1.1980, where it is looking to consolidate.
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US: Focus on ISM services index - Rabobank

Analysts at Rabobank suggest that in the US, the ISM services index is scheduled for release and they would expect the services sector to experience l
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