NZD/USD: Top-side squeeze could continue - ANZ

Sandeep Kanihama FXStreet Contributor

Analysts at ANZ explain that despite another poor dairy auction and weak technical picture of NZDUSD pair, the reality of a short market has resulted in a classic squeeze higher, helped by the AUD and wobbly USD.

Key Quotes

“We had felt that skewed positioning would mean the downside was a struggle right now and we still believe that. In fact, this top-side squeeze could continue today.”

“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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