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Kiwi price action looks strong as the USD falters. New Zealand’s handling of COVID-19 looks to be paying dividends in FX markets, analysts at ANZ Bank apprise.

Key quotes 

“NZD/USD has broken above the 0.61 level and price action looks strong.”

“It’s mostly a soft USD story as the US COVID-19 death toll surpasses the 20k mark and equities falter.” 

“The next target is around 0.6350, where the Kiwi spent a lot of time in early March before heading south.”

“Support 0.6000 Resistance 0.6170”