According to the ICN.com Technical Analyst Team, “The NZD/USD is currently rising after touching zones around the resistance at 0.8500 points, which we expect will witness renewed negative pressures. Stabilizing below 0.8530 maintains expectations of a potential downtrend throughout Thursday's session, forecasts supported by its linear regression indicators.”
Mataf.net analysts point to resistive means for the NZD/USD at 0.8545, ahead of 0.8571, and ultimately 0.8616. Conversely, a break below 0.8474 will initiate resistance at 0.8429 and 0.8403.
“The kiwi is relatively vulnerable should any negative piece of global and/or NZ news trigger a flight back into ‘safe-haven’ assets.” warns the BNZ Research Team.