With more aggressive monetary easing on the cards compared to China, strategists at ANZ Bank expect NZD/CNH to retest the last low, and breaking 4.00 by end-2020 is possible. Key quotes “Despite success in containing COVID-19, the threat of a negative OCR (possibly next year) and potential QE purchases of foreign assets are significant headwinds for NZD. The kiwi will also be impacted if risk appetite sours and global data continues to shock to the downside.” “On the top side, 4.40-4.45 is a key resistance window which we expect to hold. We favour turning short in the cross on rallies from hereon.” “For buyers, immediate support is 4.22, to be followed by 4.17 and then 4.05, which could be reached in late 2020.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next BoE’s Saunders: Some recovery in economic activity is likely as the lockdown eases FX Street 3 years With more aggressive monetary easing on the cards compared to China, strategists at ANZ Bank expect NZD/CNH to retest the last low, and breaking 4.00 by end-2020 is possible. Key quotes “Despite success in containing COVID-19, the threat of a negative OCR (possibly next year) and potential QE purchases of foreign assets are significant headwinds for NZD. The kiwi will also be impacted if risk appetite sours and global data continues to shock to the downside.” “On the top side, 4.40-4.45 is a key resistance window which we expect to hold. We favour turning short in the cross on rallies… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
