NZD/USD: Enthusiasm for the Kiwi is high – ANZ

NZD/USD is back in the mid-0.63s. Economists at ANZ Bank expect the pair to remain elevated.

Markets look to fade USD strength

“Enthusiasm for the AUD (and NZD) is high as markets look to fade USD strength, with the prospect of an unwind of last year’s extraordinary gains in the USD (which we see as around 10% rich to fair value in DXY terms) high on investors’ minds.”

“Data will again be key this week if it is to be a USD fade that helps the Kiwi along, with US CPI data out in the wee hours of Thursday morning NZ time.”

“Support 0.5750/0.5900/0.6085 Resistance 0.6365/0.6540”