The NZD/USD is trading at its highest level since last March after the U.S. Federal Reserve unveiled an open-ended bond buying plan Thursday to help the domestic economy. The pair is at 0.8350 and Westpac Bank Senior Strategist Imre Speizer says it could break through 0.8470 "at least and possibly beyond." The QE3 "is powerful and there was no disappointment in it. Some thought there was a risk of some disappointment and it was already priced in. Well, it wasn't all priced in. It wasn't even mostly priced in," says Mr. Speizer. He says it has short term support around 0.8230 and initial resistance at 0.8360, followed by 0.8470.
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