NZD/USD: Top-side squeeze could continue - ANZ

Analysts at ANZ explain that despite another poor dairy auction and weak technical picture of NZDUSD pair, the reality of a short market has resulted in a classic squeeze higher, helped by the AUD and wobbly USD.

Key Quotes

“We had felt that skewed positioning would mean the downside was a struggle right now and we still believe that. In fact, this top-side squeeze could continue today.”

“Support 0.6740 Resistance 0.6850”