NZD/USD: Not as good as it seems – ANZ

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​The Kiwi has gained from the worldwide risk-on vibe but, as per the ANZ Bank strategist team, the NZD/USD view isn’t that optimistic in the medium term.

Key quotes

“Strong as it looks, our medium-term bias has the Kiwi moving gradually lower.” 

“The threat of foreign asset purchases and negative rates will hang over NZD for a while, especially with most Fed officials not in favour of negative rates.”

“Support 0.5850 Resistance 0.6170”