NZD: Mild downward bias – ANZ

Sandeep Kanihama FXStreet Contributor

Analysts at ANZ explain that Kiwi’s foray higher yesterday afternoon proved relatively short-lived, as it became clear that it wasn’t really justified up at those levels.

Key Quotes

“As the key FOMC meeting creeps closer, US yields are ticking higher (despite some mildly softer data overnight), and that is lending support to the USD. Together with what is still a highly fluid domestic political scene, we retain a mild downward bias for kiwi.”

“Support 0.7230 Resistance 0.7330”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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