NZD/USD: Move below 0.72 couldn’t be sustained - ANZ

Despite breaks of key support levels in some crosses (NZD/AUD and NZD/EUR), the move below 0.72 in kiwi couldn’t be sustained as political turmoil continues to dog the USD, according to analysts at ANZ.

Key Quotes

“While all eyes are turning to Yellen’s Jackson Hole speech, we believe it is only a matter of time before NZD/USD tests lower levels again, with perhaps the 200-day moving average around 0.7125 a near-term target.”

“Support 0.7180 Resistance 0.7280”