fxs_header_sponsor_anchor

News

NZD/USD: Next major target level is 0.6450 – ANZ

Kiwi has seen move that has taken it through resistance at 0.6325. Next target on the upside aligns at 0.6450, economists at ANZ Bank report.

Large interest rate advantage for the Kiwi

“Kiwi has rallied strongly. This has come about mostly via a weaker USD (with the DXY at a fresh low for the cycle), but the NZD has also differentiated itself against the AUD, which we believe likely reflects its large interest rate advantage. That’s certainly a pillar of support (especially given the collapse in US bond yields).”

“Price action looks extremely solid, and technically, the next major target level is 0.6450 (marking both the Aug high and the 61.8% retracement of the whole 2022 move).”

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.