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Forex Flash: NZD/USD may be heading toward 0.82 ahead of ECB - Westpac

By FXstreet.com,  July 30, 2012, 01:44:00 AM EDT

FXstreet.com (Barcelona) - The NZD/USD, despite loer on progit taking, retains bullish bias with eyes on the ECB next Thursday, says Westpac currency strategist Imre Speizer; "The well-known catalyst for that reversal is the head of the ECB saying that he is going to release the mother of all stimuluses. He didn't say it would come this week or in what form but the implication from his comments is he has promised something quite big." Speizer anticipates the spot rate may be heading toward 0.8200 ahead of the meeting and may even surge to 0.8450. Key support should be note at 0.8075, with further support at 0.8055, which should protect bulls.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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