NZD View: FXWW

From the FXWW Chatroom – Kiwi held in well overnight all things considered, with NZDUSD seeing solid demand above 0.6700. We notably outperformed on the crosses, NZDAUD breaking above 0.9345/50 resistance and both NZDGBP and NZDEUR continuing their recent run higher. We’re starting to approach attractive levels to start fading these cross moves and we remain in favour of playing kiwi from this side as opposed to NZDUSD. Against the risk backdrop overnight NZDUSD looks well held at 0.6800 and we’d expect support levels to come into focus should this sentiment continue, first up 0.6700 and below that the 100 day m.a at 0.6660. Beyond this though we are mindful of both positioning and seasonality being supportive for kiwi on any meaningful dips over the coming weeks.

View the latest market information in the FXWW Chatroom with a free trial.

Leave a Reply

Your email address will not be published.