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FxWirePro: NZD/USD firms as Kiwi gains on strong ANZ business outlook data
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• NZD/USD firmed on Thursday as kiwi dollar was boosted after ANZ Business Outlook Index surged to its highest since February.
• The ANZ survey showed a net 56.1% of respondents expect the economy to improve over the next year, up from 36.6% in June.
• The strong rise in the index suggests businesses are growing more optimistic, with signs that the economy is recovering from the pressures of high borrowing costs, persistent inflation, and weak consumer demand.
• Support is seen at 0.5781(SMA 20)and break below could take the pair towards 0.5743(38.2%fib).
Recommendation: Good to sell around 0.5830 with stop loss of 0.5900 and target price of 0.5760