NZD/USD: Fed meeting this week is probably the biggest risk - ANZ
|Analysts at ANZ explained that the NZD appears to have found a floor for now, bouncing off 0.7200 last night on a weaker USD theme.
Key Quotes:
"The 0.72-0.74 range has broadly held since mid-January.
The Fed meeting this week is probably the biggest risk for the currency this week."
"Despite the rout in global equity markets, the kiwi bounced overnight, with a test of the 200-day moving hour support just a little out of reach. With global news flow dominating, it is possible we spend the day pushing a little higher. However, with market volatility clearly rising, it seems only a matter of time before the NZD tests lower levels. Support 0.7180 Resistance 0.7420"
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