NZD outlook - support / resistance levels ahead
Via Kiwi Bank, a New Zealand dollar view and levels.
On the election impact:
- Markets like certainty and the market knows what Labour brings.
- tail risk of a Labour / Greens coalition, which speculatively brought the prospect and risk of a potential wealth tax, now significantly reduced
- we continue to see NZDUSD find buyers at a late September initiated trend support level of 0.6570, with topside resistance into 0.6690/0.6700 in the coming days.
- Looking a little further down the risk tunnel, a broader 0.6510 - 0.6800 range should likely hold in the run-up to some potential November 4 (NZT) US election-induced fireworks