NZD/USD: a top performer, testing 200 sma on 4hr at 0.7248
|Currently, NZD/USD is trading at 0.7224, up 0.47% on the day, having posted a daily high at 0.7251 and low at 0.7190.
Supported by lower US rates and a softer greenback, NZD/USD has been a star performer of late, rallying in style from the October lows at 0.7034 to fresh daily highs again today and meeting the 200 sma on the 4hr sticks at 0.7248. Risk is on and oil is driving demand into the market, breaking up through $52bbls for $52.24 fresh daily highs also.
NZD/USD levels
With spot trading at 0.7224, we can see next resistance ahead at 0.7230 (Daily Classic R1), 0.7251 (Daily High), 0.7251 (Weekly Classic R2), 0.7271 (Daily Classic R2) and 0.7317 (Weekly Classic R3). Support below can be found at 0.7220 (Yesterday's High), 0.7205 (Hourly 20 EMA), 0.7190 (Daily Open), 0.7190 (Daily Low) and 0.7182 (Daily 20 SMA).
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