The kiwi is facing a transcendent week with the possibility of re-testing highs, according to analysts at ANZ Bank. NZD/USD is trading at 0.6072.
Key quotes
“This is a big week for the NZD as it could re-test highs – all it would take would be the RBNZ keeping its ‘OCR on hold for at least 12 months’ guidance. But even if that happens, we doubt it will last.”
“With inflation headed down and unemployment set to rise, a lot more easing is coming later and that makes Kiwi vulnerable on rallies.”
“Support 0.5850 Resistance 0.6170”
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