NZDUSD Heading South in Medium Term from 0.6700 (Correction)

Based on the NZD currency band pricing structure, the 0.6700 is the central parity of the upper ceiling and adjustment to 0.6800 was rejected. The NZDUSD directional price dynamics inticate for the NZDUSD to bearish in medium term and followed by the weakening of NZD against G-8 currencies. At such, the NZDUSD , NZDJPY , NZDCAD are bearish in medium term and the EURNZD and GBPNZD are bullish in medium term. However, the AUDNZD still bullish until the AUDUSD bullish rate to be stopped or ceiled. It is estimated for NZDUSD to bearish down to 0.5600 in medium term and followed by NZDJPY and NZDCAD by their equivalent rate.