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Daily outlook for NZD/USD

Westpac Research notes:

NZD/USD 1 day: Holding above 0.6880 for now but we favour it lower during the week ahead.

NZD/USD 1-3 month:  Multi-month, we expect the US dollar uptrend to resume with stronger US data in Q2 and Q3 (signalled by our US data surprise model). Domestically, the looser RBNZ is an additional bearish factor. We therefore expect NZD/USD to fall further, the next major target 0.6800 (July 2010 low) and after that, 0.6560 (May 2010 low).

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