NZD/USD jumps and breaks above 0.6800

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    NZD/USD rose further after Wall Street opening bell and climbed above 0.6800 for the first time in a week. The pair peaked at 0.6807, the strongest since March 18.

    The pair remains near the highs, holding a strong bullish tone as the US dollar tumbles against commodity currencies despite the decline in crude oil prices and ahead of Janet Yellen’ speech.

    NZD/USD erases last week losses

    The kiwi is rising for the second day in a row against the US dollar. In less than 48 hours it has been able to erase last week losses, when it dropped during five consecutive days.

    On Monday, NZD/USD bottomed at 0.6667, the lowest level since the latest FOMC decision and then turned to the upside. It finished yesterday at 0.6725 and today, initially it climbed to 0.6760 and recently broke higher.

    At the moment is hovering around 0.6800, again looking at March highs that lie at 0.6873; before it could face resistance around 0.6820.
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