NZD/USD: Positive vibes, 0.7154 is the next major target – ANZ

The NZD/USD pair is trading comfortably above 0.70 as the USD weakens, NZ interest rates edge higher and positive Kiwi vibes stoke the bulls, economis  |  26/11/2020 08:17

The NZD/USD pair is trading comfortably above 0.70 as the USD weakens, NZ interest rates edge higher and positive Kiwi vibes stoke the bulls, economists at ANZ bank apprise. Technically, the kiwi also looks strong. 

Key quotes

“NZD/USD is comfortably trading above 0.70, having benefitted from higher local interest rates and USD weakness.” 

“There are a lot of reasons to be positive heading into the holiday season. We still have reservations further out (the stellar pace of the rebound simply can’t be sustained, and tourism remains an issue), but for now it’s a good news story and the market likes it.”

“Having broken 0.70, the technical picture is strong, and 0.7154, which is the 138.2% Fibonacci extension of the 2020 decline to 0.5623 is the next major target on a daily chart.”

 

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on FX
and other asset classes for Market Insight viewers

RISK WARNING

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

  • ForexF
  • IndicesI
  • CommoditiesC
        Back

        Login to Market Insight Account

        Your Market Insight account gives you access to the tools that we offer our customers including our
        Technical Studies & Sentiment for your accounts.

        Forgot Password?

        Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

        Create a Market Insight's Account

        Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

        register_ty

        Thank you!

        Welcome to Market Insight family!

        You have succesfully completed the registration.
        We will send you an e-mail to give you some
        instructions and our Terms and Conditions!
        Our account representatives will be contacting you as
        soon as possible. If you have any further questions
        please do not hesitate to mail us via info@marketinsight.com