NZD/USD is a touch higher. A sustained break of 0.6365 would be a good sign technically, analysts at ANZ Bank report.
“The kiwi’s bounce off lows this week has been textbook in that it bounced neatly off 0.6230 (the 61.8% Fibo of the 2020-21 rally from 0.5470 to 0.7464). But the bounce was slight and we are mindful of higher oil prices, slowing growth in China and a high degree of cross-market correlation, which all speaks to the kiwi may be running into headwinds if global sentiment sours again. We’re watching closely and keeping an open mind.”
“Support 0.6100/0.6230 Resistance 0.6365/0.6465/0.6545.”
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