Tag Archives: New Zealand dollar

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Sell NZD/USD at 0.7600 limit – UBS

 

Swiss Bank UBS has suggested to clients to go short NZD. They report “NZD/USD should head lower. Sell rallies to 0.7600 with stops above 0.7720, targeting an eventual retest of 0.7300/0.7175″. Selling NZD against the USD is popular among brokers at the moment with BNZ also suggesting a short trade on NZD/USD.

Sell on limit at 0.7600, stop above 0.7720 with a limit at 0.7300 or lower.

Source: UBS

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NZD/USD Look To Re-Enter Strategic Short – BNZ

 

BNZ look To re-enter a strategic short position on NZD/USD. In a note to clients they report “NZD has bounced back admirably from cyclical lows hit after the RBNZ dropped its tightening bias. But the medium-term outlook is still negative, even with recent strong gains in dairy prices at auctions. We would consider rallies toward 0.76 as
opportunities to enter strategic short positions, targeting 0.70″.

They also note “we feel that levels above 0.7550 offer attractive risk-reward for a strategic NZD/USD short, on the premise that the mega-rally in the USD continues to grind higher. We would set a wide stop, 0.77 or higher, as is prudent in volatile markets such as these”.

Sell NZD/USD at 0.7550, stop >0.7700 with a profit target of 0.7000.

Source: BNZ