NZD/USD Forecast June 1-5

The New Zealand dollar continued its downfall to lows last seen 5 years ago as the US dollar surged. The bi-weekly milk auction is the key event . Here is an analysis of fundamentals and an updated technical analysis for NZD/USD.

New Zealand’s trade balance remained positive for another month, with a surplus of 123 million. Nevertheless, the kiwi surrendered to the US dollar, that took advantage of each bit of positive data. There is a growing consensus that rates will be cut sooner rather than later. Will the downfall continue?

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