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Currency markets have been volatile, but the NZD has bounced nicely off support around 0.7150. Analysts at ANZ Bank expect the kiwi to remain elevated. 

Key quotes

“From here things look a bit mixed. At a sentimental level, it’s easy to be bullish NZ and bearish on the US given the COVID-19 and political differences, but equally, it is US risk assets and higher US bond yields that are in the driving seat, and NZD seasonal bullishness often fades in January.”

“All told, the outlook is one of ongoing NZD elevation rather than further strength.”

“Support 0.7150 – Resistance 0.7290/0.7315”