The Pound to New Zealand Dollar was moving in a sideways range during most of June and July but last week it decisively broke lower.
The commodity currency block, which includes AUD, CAD and NOK, is forecast to turn higher, says analyst Bipan Rai of CIBC economics.
NZD/USD is describing a 'V' shaped price action over the last 24-hours as varrying factors have impacted on the currency pair
The pair is broadly moving sideways with a slight upside bias, it is expected to extend higher in the week ahead.
The New Zealand Dollar to US Dollar has stalled at a key trendline at 0.7300 and now analysts see the pair rotating and falling as the New Zealand Dollar (Kiwi) loses ground due to a negative fundamental backdrop.
The New Zealand Dollar has been one of the strongest G10 currencies over recent years but its days as top dog may be numbered.
There is a possibility GBP/NZD will continue higher towards the 1.8000 target, which would gain confirmation from a break above the 1.7915 level.
The Pound has pushed higher against the New Zealand Dollar as easing UK political risks supported sterling after Theresa May’s government returned to office.
The Pound to New Zealand Dollar exchange rate is seen continuing its short-term downtrend at the start of the new trading week.
The GBP/NZD pair is in a steady downtrend, which despite having reached support from the major down-sloping trendline, will probably continue sliding lower – and definitely shows no signs of recovery yet.
The Pound looks poised to rise against the New Zealand Dollar in the week ahead after reaching a significant layer of chart support from which to launch a new phase of rallying higher.
The New Zealand Dollar (Kiwi) gained support on Friday after a gauge of Manufacturing Sector, similar to the Purchasing Manager Indices (PMI’s), revealed more growth than expected.
The Pound to New Zealand Dollar has extended its previous decline through several major support layers but it is approaching another in the shape of a major multi-year trendline which is expected to halt declines, at least temporarily.
The GBP/NZD pair fell steeply following the June election, in the same way as other Sterling pairs.
The New Zealand Dollar (Kiwi) has been one of the strongest currencies of late but its fortunes could be about to change.
The New Zealand Dollar stands out as one of the currencies to watch, according to analysts at inevstment bank Morgan Stanley.
GBP/NZD has pulled-back over the last few weeks after the New Zealand dollar (Kiwi) outperformed the Pound.
The New Zealand Dollar peaked and then fell to the Pound during the month of May.
GBP/NZD extended its sell-off last week despite contrary data bringing into question the superiority of the Kiwi over the Pound.
The Pound to New Zealand Dollar (Kiwi) stalled in its new downtrend midweek after Moody’s downgrade of China dimmed the outlook for New Zealand’s largest export destination.
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