NZD/USD: bulls capped as Trump heats up the greenback

Ross J Burland FXStreet

Currently, NZD/USD is trading at 0.7248, up 0.03% on the day, having posted a daily high at 0.7257 and low at 0.7245.

NZD/USD has continued with its bullish theme while the dollar had been sold off, but in recent trade and towards the end of the US shift, the dollar got a boost as the market starts to get behind the bid again in the wake of Trump's sudden surge to start implementing the administration's domestic infrastructure projects to make "America great again".

Trump kick starting a rally in the dollar on his make America great again projects sign off's

Today we get New Zealand card spending data, and CPI in Australia. The latter will be watched closely for clues on NZ CPI tomorrow.

NZD/USD levels

With spot trading at 0.7248, we can see next resistance ahead at 0.7257 (Daily High), 0.7270 (Daily Classic R2), 0.7278 (Yesterday's High), 0.7307 (Weekly Classic R2) and 0.7312 (Daily Classic R3). Support below can be found at 0.7246 (Daily Open), 0.7246 (Monthly High), 0.7246 (Weekly High), 0.7245 (Daily Classic R1) and 0.7245 (Daily Low).

	TREND INDEX	OB/OS INDEX	VOLATILY INDEX
15M	Bullish	Overbought	High
1H	Bearish	Neutral	Expanding
4H	Bearish	Neutral	Expanding
1D	Slightly Bullish	Overbought	High
1W	Bearish	Neutral	High
Updated Jan 23, 22:45 GMT

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.