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The NZD is finally getting on with the job of helping the country out, even if it has been a USD story. Biased lower, in the opinion of analysts at ANZ Research. 

Key quotes

“NZD/USD is back below 0.60 again, under pressure from USD strength and falls in correlated currencies, and not helped by the fall in GDT auction prices.”

“We are now at a new low for the cycle, and with large-scale QE inevitable in coming weeks and the US gearing up for more fiscal stimulus, we expect the Kiwi to be under gravitational pull.”

“Support 0.5900 Resistance 0.6060”