0.589
Today
+0.67%
5 Days
+0.33%
1 Month
+2.39%
6 Months
-2.46%
Year to Date
+2.27%
1 Year
-1.43%
Opening Price
0.585Previous Closing Price
0.585The New Zealand Dollar (NZD) appreciates on Wednesday as the US Dollar (USD) loses ground across the board amid dwindling hopes of immediate Federal Reserve interest rate hikes.
• NZDUSD rose due to broad US dollar weakness from softer inflation signals. • Reserve Bank of New Zealand policy stance provided fundamental currency support. • Technical support near the 100-day moving average prompted institutional short-covering flows.
NZD/USD gains ground after four days of losses, trading around 0.5870 during the early European hours on Friday. The pair appreciates as the New Zealand Dollar (NZD) receives support from traders continuing to price in a Reserve Bank of New Zealand (RBNZ) rate hike next month.
The NZD/USD pair is seen building on the previous day's bounce from the 0.5820 region, or a two-week low, and gaining some positive traction during the Asian session on Friday. Spot prices climbed back above 0.5850 in the last hour and, for now, seem to have snapped a four-day losing streak.
NZD/USD is recovering on Thursday in the American session, regaining the mid-0.5800s after rising off two-week lows reached during the Asian session. The New Zealand Dollar (NZD) has clawed back some ground as the US Dollar (USD) lost momentum.
NZD/USD trades around 0.5850 on Thursday at the time of writing, down 0.15% on the day.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
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The upside prevails as long as 0.5847 is support, with 0.5886 and 0.5896 as targets
below 0.5847, expect 0.5831 and 0.5821.
The upside prevails as long as 0.5847 is support, with 0.5886 and 0.5896 as targets
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