NZD/USD: Continue to favour fading strength at these levels - ANZ

Analysts at ANZ continue to favour fading NZD strength at these levels, given stretched positioning, the approaching election, and an ultimate turn in the global liquidity cycle – even one of the more dovish members of the FOMC is talking about balance sheet normalisation.

Key Quotes

“But the picture is clouded by patchy US data and political unease, and the technical picture looks ‘strong’. Picking the timing of a NZD/USD move lower is proving difficult.”

“Support 0.7460 Resistance 0.7560”