NZD/USD on the defensive - ANZ

Sandeep Kanihama FXStreet Contributor

Analysts at ANZ explain that the key support for NZD/USD around 0.6820 gave way to end the week, and it quickly made new lows for the year.

Key Quotes

“While it subsequently bounced, the fact that the NZD has been underperforming despite generally weaker USD sentiment is somewhat telling, and provides a soft signal. With general market risk appetites waning, that should keep kiwi on the defensive.”

“Support 0.6740 Resistance 0.6850.”

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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