NZD/USD breaks 0.65, clear way forward to 0.6765 – ANZ

NZD/USD is in a bullish mood after breaking the 0.65 resistance and now there is a highway until the 0.6765 January high. Long-term, however, economists at ANZ have some doubts regarding the kiwi outlook.

Key quotes

“In the short-term, there is seemingly little standing in the way of further upside other than potential profit-taking. We have some fairly strong reservations about what the post-recovery global economy looks like, but for now, if the music’s playing, the Kiwi’s going to be dancing.”

“The break of 0.6500 was technically very encouraging. From here it’s blue sky till 0.6765 (the Jan high).”