NZD/USD: approaching lowest levels in a year - ANZ

Analysts at ANZ explained that the kiwi broke through the key 200 day MA support level overnight to approach its lowest levels for the year.

Key Quotes:

"A long market has assisted the move, but this has largely been about a stronger USD, with it responding to higher yields and perhaps easing fears on trade. A bounce is possible, but expect kiwi to remain on the defensive.

Support 0.7050 Resistance 0.7185"