NZD/USD on the defensive - ANZ

Analysts at ANZ explain that the key support for NZD/USD around 0.6820 gave way to end the week, and it quickly made new lows for the year.

Key Quotes

“While it subsequently bounced, the fact that the NZD has been underperforming despite generally weaker USD sentiment is somewhat telling, and provides a soft signal. With general market risk appetites waning, that should keep kiwi on the defensive.”

“Support 0.6740 Resistance 0.6850.”