NZD/USD: bullish on Trump and Milk prices
|NZD/USD is trading at 0.7209, up 0.39% on the day, having posted a daily high at 0.7224 and low at 0.7181.
Market wrap: risk aversion permeated - Westpac
NZD/USD has been supported on the surprisingly large jump in dairy prices overnight along with the Trump factor weakening Wall Street and the US dollar, offering some bullishness in the bird. "We target 0.7200, although there’s plenty of event risk from NZ and the US to navigate today," offered analysts at Westpac who have targets at 0.6950 or lower as long as the RBNZ cuts to 1.75% in November and the Fed tightens to 0.625% in December, "...as we expect."
NZD still rated very highly - Westpac
NZD/USD levels
With spot trading at 0.7212, we can see next resistance ahead at 0.7224 (Daily High), 0.7231 (Weekly Classic R2), 0.7274 (Monthly High), 0.7275 (Weekly Classic R3) and 0.7450 (YTD High). Support below can be found at 0.7197 (Weekly Classic R1), 0.7197 (Daily Classic R3), 0.7195 (Daily 100 SMA), 0.7193 (Yesterday's High) and 0.7184 (Daily Open).
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