NZD/USD: Mildly negative bias over the medium-term - ANZ

The lack of election clarity, while perhaps not a surprise for local participants, has spooked international investors to a degree and you’d have to think that until a coalition decision is made, that uncertainty will at least cap the topside for kiwi, according to analysts at ANZ.

Key Quotes

“But stepping back from the election, we still retain a mildly negative bias for kiwi over the medium-term as some of the relativities previously supporting it (relative growth and interest rates, global liquidity cycle etc) lose their lustre to a degree.”

“Support 0.7230 Resistance 0.7315”