NZD/USD moves to fresh highs of the week above 0.7240


  • NZD/USD has seen significant upside in recent trade as a function of a weakening USD dollar.
  • Markets are currently watching an online conversation in which Fed Chair Powell is participating with Princeton University.

NZD/USD has seen significant upside in recent trade as a function of a weakening USD dollar. No particular theme started off the move, which has seen the Dollar Index (DXY) drop back towards the 90.10 mark. At present, the pair trades about 0.9% higher or up by around 60 pips and has crossed above the previous high of the week at 0.7240 in recent trade.

Fed Chair Powell speaking now

Markets are currently watching an online conversation in which Fed Chair Powell is participating with Princeton University. The Fed Chair is yet to say anything meaningful regarding policy (he has spent most of the conversation justifying the Fed’s recent shift to average inflation targeting) and has otherwise reiterated the Fed’s known policy stance, but his generally dovish tone does seem to be calming some nerves and weighing on the US dollar. Markets are particularly interested in what the Fed Chair will have to say regarding when the bank might start reducing the monthly pace of its asset purchase programme.

NZD/Usd

Overview
Today last price 0.7227
Today Daily Change 0.0048
Today Daily Change % 0.67
Today daily open 0.7179
 
Trends
Daily SMA20 0.7144
Daily SMA50 0.704
Daily SMA100 0.6847
Daily SMA200 0.6605
 
Levels
Previous Daily High 0.724
Previous Daily Low 0.7166
Previous Weekly High 0.7316
Previous Weekly Low 0.7153
Previous Monthly High 0.7241
Previous Monthly Low 0.7002
Daily Fibonacci 38.2% 0.7194
Daily Fibonacci 61.8% 0.7212
Daily Pivot Point S1 0.715
Daily Pivot Point S2 0.7121
Daily Pivot Point S3 0.7076
Daily Pivot Point R1 0.7224
Daily Pivot Point R2 0.7269
Daily Pivot Point R3 0.7298

 

 

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