NZD/USD: Vulnerable to a correction – ANZ

The kiwi followed AUD higher but looks vulnerable to a correction, in the opinion of analysts at ANZ Bank.

Key quotes

“NZD/USD consolidated on the break through 0.60 and has gone higher yet on the coattails of the AUD, which caught the bid on what some felt (we think incorrectly) that the RBA isn’t all that committed to QE.”

“As the reality that they are sinks in, the Antipodeans will be under pressure again but the NZD does have trade and our ‘island nation’ status as supports.”

“Support 0.5900 Resistance 0.6100”