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The NZD/USD pair has stalled at 0.7255 for now but retains potential to push higher with the next target seen at the 0.7325 mark, economists at Westpac report.

Key quotes

“The kiwi stalled at 0.7255 for now but retains potential to push higher as long as global risk sentiment remains elevated. 

“The next upside target is 0.7325 (early January peak).” 

“Medium-term, we remain bullish, targeting 0.7500 by April (that was the peak area between 2016 and 2018). Key drivers are expected to be eventual renewed USD weakness and NZ economic growth outperformance.”