Flash: NZD/USD further weakness possible this week - BNZ

FXstreet.com (Barcelona) - Mike Jones, Currency Strategist at BNZ, believes that despite the recent decline in NZD/USD, the overall bullish picture for the longer term has not changed much in his view.

Nevertheless, he continues to note that for this week, further weakness is possible. He continues to add, “Despite positive NZD/USD fundamentals, negative momentum (our momentum model went short at 0.8361) and a bearish technical picture (following the break of key support at 0.8080) have the upper hand.”