NZD/USD: The path of least resistance is higher – ANZ

The NZD/USD pair is little changed, hovering just below key resistance at the 0.6690 level. For now, economists at ANZ Bank forecast the kiwi trading higher in the near-term.

See: NZD/USD faces extra gains above 0.6720 – UOB

Key quotes

“The Kiwi has consolidated at elevated levels overnight and during quiet holiday trading conditions on Monday, holding just below resistance at 0.6690, having broken above that level during late trading on Friday.” 

“Going forward, the Kiwi’s Achilles heels will be negative interest rates (with fierce debate ongoing as to when that will be – we still expect it in April) and risk appetite. But until either of those two things happen, the path of least resistance seems to be higher.”

“Support 0.6500/0.6510 – Resistance 0.6690/0.6798”