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The Kiwi has benefitted from the global risk-on vibe but in the medium-term, the NZD/USD outlook is not so positive, according to the ANZ Bank analyst team.

Key quotes

“Strong as it looks, our medium-term bias has the Kiwi moving gradually lower.” 

“The threat of foreign asset purchases and negative rates will hang over NZD for a while, especially with most Fed officials not in favour of negative rates.”

“Support 0.5850 Resistance 0.6170”