NZD/USD: Kiwi holding its own - ANZ

Analysts at ANZ explained that NZD/USD held its own and is basically sitting where it was 24 hours prior. 

Key Quotes:

"The fact the kiwi is hanging in there despite a stronger USD may reflect Fonterra’s downgrade perhaps not being as large as feared and also better QV house prices. 

However, we suspect it is also reflects market positioning. 

It points to a decent base of support at present. 

Support 0.6820 Resistance 0.6920."

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