NZD/USD has come off its highs and slipped below the 0.6900 round-figure mark but as stubborn as the pair has been, economists at TD Securities think the correction has further to run.
Key quotes
“NZD/USD has retreated from the 0.69/70 zone, though we think it still generally remains stubborn.”
“We would not be surprised to see dip buying interest emerge around 0.6800/20, as this also coincides with the September highs. Our bias however remains for a larger correction; 0.6730 and 0.6600/50 come into view (the latter would coincide with uptrend support from the June 2020 lows).”
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