NZD/USD Transfer

ByDragana My Engine Lab

Israel/Iran war headlines have helped the New Zealand Dollar (NZD) push higher towards the 0.6060 area against the US Dollar (USD). Risk currencies rose overnight in line with rises in equity markets- the DOW and S&P up around 1.0%.  If we get an escalation in tensions we may see the NZD underperform from current levels. The Fed meet Thursday morning NZT and are widely predicted to leave rates unchanged at 4.5% adopting a wait and see approach. NZ quarterly GDP publishes Thursday with expectations of 0.7% rise in growth for the March quarter. Buying USD above 0.6000 remains attractive.

Current Level: 0.6047
Support: 0.6000
Resistance: 0.6350
Last week’s range: 0.5995 – 0.6070

 

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