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.
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).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.