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Trader, analyst and instructor with a 6-year experience

ANZ holds NZD/USD short

ANZ holds a short position on NZD/USD from $0.8600 and with a target of $0.8200. 

They see four main factors that point to a further decline in NZD/USD:

  • dairy prices are flat with persisting downside risks;
  • political risks: "the election is not the fait accompli it once was";
  • markets move to reducing probabilities for RBNZ action, ANZ monthly inflation gauge shows;
  • USD developments remain bullish.

Chart. Daily NZD/USD

 

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