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Why NZD/USD will follow the trend of AUD in local time?

Discussion in 'Forex Discussions' started by ikonforex, Jan 12, 2011.

  1. ikonforex

    ikonforex New Member

    Dec 22, 2010
    Likes Received:
    The senior trader of Australia and New Zealand Banking Group, Alex Sinton said on Wednesday that due to the AUD became weak after influenced by the domestic flood, it will lead the NZD/USD to declining together.

    The economists of Australia and New Zealand Banking Group assessed that the big flood disaster in Australia will make the increased rate of GDP in the first quarter decreased, at least, 0.5 percentages, while the burden on the GDP in the whole year 2011 may be 0.3 percentages.

    Sinton pointed out that tendency of NZD/USD in the local market mainly affected by the AUD, and the predicted resistance was 0.7650. The short-term forex price will make consolidation between 0.7565 and 0.7635.

    At Beijing time 11:06, NZD/USD quoted 0.7601/05.

    Forex News

    Edited By Sarah

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