NZD/USD: Markets are watching 0.5904 support closely – ANZ

Market news

17 August 2023

NZD/USD: Markets are watching 0.5904 support closely – ANZ

The Kiwi made a new 2023 low. Economists at ANZ Bank analyze the NZD/USD pair outlook.

The focus remains global

With the Reserve Bank of New Zealand out of the way and no hike delivered, the focus remains global (which favours the US Dollar for now), poor price action, and technicals.

Markets are watching the 0.5904 support (61.8% Fibo of the 2022 rally from 0.5512 to 0.6538) closely.

Support 0.5512/0.5750/0.5904 Resistance 0.6365/0.6540.

See: NZD/USD: Doubts on any significant rebound for Kiwi in the near-term – TDS

Silver Price Analysis: XAG/USD refreshes daily top, flirts with descending channel hurdle

Russian Ruble drops back to 95.00 as sour sentiment joins firmer yields

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.