NZD/USD Rangebound, But Further Moves Likely-Westpac

The NZD/USD remains in a tight trading range during the Asian session, although it hit a 24-hour high of 0.8239 after a long-term agreement on Greece's debt reduction was struck, says Westpac currency strategist Imre Speizer; the muted move "suggests there's more to come in the London session." The pair is at 0.8225 vs 0.8218 early Monday. Speizer adds that the NZD/USD did move a tad lower on the wider-than-expected October trade deficit data released earlier. He says the local major event this week is the Australia capital expenditure data due Thursday. Speizer puts support at 0.8200 with resistance at 0.8310 and says the pair is likely to target 0.8250 in the short term.

NZD/USD Rangebound, But Further Moves Likely-Westpac

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