0.598
Today
+0.64%
5 Days
+2.24%
1 Month
+2.45%
6 Months
+0.12%
Year to Date
+3.87%
1 Year
+2.68%
Opening Price
0.594Previous Closing Price
0.594NZD/USD extends its advance on Friday and trades around 0.5980 at the time of writing, up 0.62% on the day. The pair reached its highest level since early June and is heading for a solid weekly performance, mainly supported by persistent weakness in the US Dollar (USD).
MUFG’s Derek Halpenny sees a tension between aggressive Reserve Bank of New Zealand (RBNZ) tightening expectations and increasingly stretched short positioning in the New Zealand Dollar (NZD).
• NZDUSD rose due to RBNZ hawkish policy expectations and US dollar weakness. • US Treasury yield easing and buyback operations reduced the greenback's carry advantage. • Technical indicators show a MACD buy signal and Williams %R overbought condition.
• NZDUSD advanced due to widening interest rate expectations and a weaker US Dollar. • Easing US Treasury yields reduced the greenback's relative yield advantage and pressured prices. • The MACD indicates a buy signal while the Williams %R suggests overbought conditions.
The NZD/USD pair attracts buyers for the third straight day and climbs to a fresh high since early June, around the 0.5965-0.5970 region during the Asian session on Friday. Spot prices remain on track to register strong weekly gains amid a supportive fundamental backdrop.
The New Zealand Dollar (NZD) is holding near the top of its recent range against the US Dollar (USD), sitting in the mid-0.5900s at the time of writing after touching its best level since early June.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
This feature includes nine of the commonly used technical indicators: MACD, RSI, KDJ, StochRSI, ATR, CCI, WR, TRIX and MA. You may also adjust the timeframe depending on your needs.
Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.
The upside prevails as long as 0.5948 is support, with 0.5989 and 0.5999 as targets
below 0.5948, expect 0.5931 and 0.5920.
The upside prevails as long as 0.5948 is support, with 0.5989 and 0.5999 as targets
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