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As long as the euphoria lasts, NZD will remain elevated. Analysts at ANZ Bank are positive on the kiwi as the NZD/USD pair has held above the resistance now turned into support at 0.6150/70.

Key quotes

“Technically, the fact that we have held support at the old 0.6150/70 resistance level is a positive.” 

“As we have flagged for a while, a lot of good news is now priced in and NZD will be under pressure if the mood changes.”

“Long-term, we’re concerned about global unemployment, slowing growth and the income shock of that.”

“Support 0.6150/6170 Resistance 0.6390”