Tuesday, August 2, 2011

Barclays Capital: buy NZD/USD on the dips

New Zealand’s dollar went down from its record maximum versus its US counterpart at $0.8845 hit yesterday to the levels in the $0.8720 area.

Analysts at Barclays Capital believe that NZD/USD will drop to $0.8610 and advise to buy kiwi on the dips.

Strategists at RBS claim that support for the pair is found at $0.8680, while resistance is situated at $0.8845.

h4 nzdusd 15-38

Chart. H4 NZD/USD

published by FBS Holdings © 2011