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10 Nov 2017
NZD/USD: Range-bound for now - ANZ
The RBNZ was a little more upbeat yesterday, sending the kiwi through topside resistance, but it has wobbled about since then, not helped by a risk-off tone and ongoing US tax reform wrangling, according to analysts at ANZ.
Key Quotes
“Sustained moves higher will require USD sentiment to continue to sour, which is a possibility if tax reform progress continues to be delayed. But with the potential for NZ’s upcoming data to look a little soggy, moves higher will face some headwinds. Range-bound for now.”
“Support 0.6930 Resistance 0.6980”