NZD/USD: Challenged into a risk-off phase – ANZ

Kiwi is doing ok for now but will be challenged if we go into a risk-off phase, according to analysts at ANZ Bank.

Key quotes

“NZD/USD faces some challenges should the risk-on environment we now find ourselves in change, and if oil prices remain depressed.”

“Low oil prices might be good at the pump but they generally spill over into other commodities, and that poses downside NZD risks.”

“Support 0.5850 Resistance 0.6170”