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The NZD/USD pair continued struggling as the US dollar is not losing strength. Analysts at ANZ Research comment on the situation of the cross.

Key quotes

“USD strength continued overnight and a test of key NZD support around 0.63 is in sight.” 

“A combination of strong US data and anxiety over COVID-19 are supporting this purple patch for the USD. Whilst we are cognisant of market positioning, there seems little that can turn the USD’s trend around just now.”

“Support 0.6300 Resistance 0.6425”

 

Expert score

5

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