Forex: NZD/USD targeting a move to 0.810 - RBS

“In the context of expectations for broad strength in the USD, we see an opportunity to sell NZD around current levels with a stop above .8350, targeting a move to 0.810,” says FX Trading Strategist at RBS Greg Gibbs, while NZD/USD is currently printing fresh session lows at 0.8248, breaking even for the week so far, off Wednesday's weekly highs at 0.8350.

“Concerns over a developing drought may offset the positive vibe coming from the Canterbury rebuild and add to the technical and positioning data in the case for a weaker NZD,” warns Greg.