NZD/USD rallies likely to be shortlived - Westpac

Analysts at Westpac explained that the USD regained some poise as the continuation of solid US data and rising yields came into focus.

Key Quotes:

"Locally, range trading is likely until the dairy auction and Q4 labour data, both of which should be supportive.

However, an on hold RBNZ for the foreseeable future, as well as some currency concerns will likely contrast with bullish Fed sentiment and lifting US inflation expectations (ISM non-manufacturing), meaning rallies are likely to be short-lived."

Support 0.7140 Resistance 0.7420"