NZD/USD: Continued range trading – ANZ

The Kiwi is holding up well even as the USD strengthens. Technical signals are mixed and analysts at ANZ Bank expect more range-trading.

Key quotes

“NZD/USD has held reasonably steady overnight despite broad USD strength, with the latter somewhat surprising given the surge in jobless claims data.” 

“Continued range trading seems likely as we head into the weekend. The break of the uptrend channel on Wednesday hasn’t had momentum lower, leaving us neutral.”

“Support 0.5830 Resistance 0.6100”