NZDUSD Eyes Sub-0.63

by Ashraf Laidi
Jul 2, 2009 13:15 | 108 Comments

NZDUSD Eyes Sub-0.63 - Kiwi Jul 2 (Chart 1)

Further downside room for NZDUSD remains despite 200-pt loss over past 3 days. Latest weakness in NZD data and the RBNZs reluctance to intervene, combined with deteriorating internals for US and emerging market equity indices, spells prolonged selling towards TL support of 0.6260, a break of which may call up 0.6170s. NZDJPY also appears vulnerable, suggesting 60.70 and 59.80 targets. Renewed talk from Chinese officials demanding G8 to discuss a new reserve currency will continue to weaken the US currency and provide some support for NZDUSD but the risk foundation in the markets appears increasingly NZD-negative. Upside capped at 0.6430s.

 

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Ashraf Laidi
London, UK
Posts: 0
13 years ago
Aug 25, 2009 14:15
mo, that also depends on how high this thing is going to take off. The only viable NZDUSD resistance
i see 0.6930-- 61.8% retracement as well as the choppy resistance on Sep 18. downside target for Oct seen at 0.62.

Ashraf
canetoad
brisbane, Australia
Posts: 7
13 years ago
Aug 25, 2009 13:51
Jezz, tough gig on these NZD/USD SHORT keeps on rallying on weakness. I look too be in way too early
mo
liverpool, UK
Posts: 123
13 years ago
Aug 25, 2009 11:00
Hello Ashraf

I had just initiate short NZD/USD, what is your medium term target for this pair I,e September/October?
Thank you
Ashraf Laidi
UK
Posted Anonymously
13 years ago
Aug 14, 2009 10:42
Jono, each time we have such a rapid jump in NZD nearing new peaks, we get a dosage of risk aversion i.e. moneyflows back into JPY. so we see ground for pullbacks in GBPJPY and CADJPY

Ashraf
Jono
Posted Anonymously
13 years ago
Aug 14, 2009 10:02
Dear Ashraf, what's your outlook for GBPNZD? Looks like hitting long-term low soon.
Ashraf Laidi
London, UK
Posts: 0
13 years ago
Aug 11, 2009 1:21
Asad, the real is no stranger to the financial markets. it was THE emerging mkt story of 2007-08 and Bovespa was the highest performing stock market in 2007. My book has several pages on the BRL and Brazil's resources. theres also in depth analysis on AUD, NOK and CLP. ETF plays for BRL and/or brazilian stocks are plentiful.

Ashraf
asad
London, UK
Posted Anonymously
13 years ago
Aug 11, 2009 0:35
Ashraf,

What's your take on the Brazilian real? I find it quite attractive at current levels - when the economy rebounds it will certainly shoot - and there is positive noise about it from the financial community as well. Please suggest a good, medium-term pairing of real w/ another currency. Thanks!


Asad

P.S. They also now own, which is possibly the world's largest, Tupi oil field (although extracting it is another story). Sugar and coffee prices have reached record-beating highs recently and Brazil is home to both commodities. Hmm it could be a pretty sexy punt within the next 12 mo. What do you think...??
Ashraf Laidi
London, UK
Posts: 0
13 years ago
Aug 10, 2009 16:45
Jenn, id say there's a chance for a NZD retracement just because it has rallied excessively across the board, but i would not expect aything below 0.6650 for now as lonng as no aggressive rally in equities.

Ashraf
jenn
Posted Anonymously
13 years ago
Aug 10, 2009 16:23
Hi Asraf , what is your take on NZUSD in the short and medium term? Any hope of retracement from here?
Ashraf Laidi
London, UK
Posts: 0
13 years ago
Aug 3, 2009 18:36
Wolf, looks like Kiwi has enough boost to test 0.6720

Ashraf