The Kiwi is holding on tight to gains above 0.58. If primary exports can be kept going, which looks likely, NZD strength might be justified, in the opinion of analysts at ANZ Bank.
“NZD/USD is holding up very well, having broken through key technical resistance yesterday, and supported by a bit of a change in thematic in the market.”
“Ordinarily a trade shock and slowing economy would be bad news for the Kiwi, and although commodity prices are well lower, if primary export volumes hold up that’s a good story.”
“Support 0.5780 Resistance 0.6000”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.