NZD/USD flys into good offers on risk-on

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - NZD/USD is currently trading at 0.6504 and has recently made a fresh high of 0.6538 with a low of 0.6411.

    NZD/USD has joined the party and has also caught a bid as risk takes off in the US session. copper on the bid, WTI recovering over $2bbl, S&P making new highs since Tuesday's session. The Yen is taken back on this mood also, but analysts at Bank of Tokyo do not even feel that next week's BoJ can shift the broader mood in markets while recent remarks from officials reported in the media are signalling for BoJ easing with concerns for a strong Yen.

    NZD/USD levels

    Technically, as with its fellow antipodean, the bird has rallied through the 200 sma on the hourly chart, but wil also find this level of resistance a touch one to break off and more stimulus is required to see this really fly for a test of the 100 dma at 0.6578.
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