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NZD/USD rises further and hits 1-week highs as US dollar tumbles

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - NZD/USD gained momentum amid a weak US dollar and soared after breaking above the 0.6550/55 zone, that since last week was an important short term resistance.

    The pair peaked at 0.6592, reaching the highest level since November 6. It was trading at 0.6575, up 1.85% for the day, having the biggest daily gain in a month.

    NZD, among the best

    The New Zealand dollar is rising sharply in the market. Is the best performer among the most traded currencies, after rallying particularly during the New York session. AUD/NZD was testing weekly highs at 1.1010 a few hours ago and now is below 1.0950.

    Stocks in Wall Street are trading with mix results. The Dow Jones is down 0.09% and the Nasdaq gains 0.06%. European markets finished with gains but far from the highs. Commodities are moving in different directions. Gold is up by 1.30% while crude oil is falling almost 2%.
    For more information, read our latest forex news.
     

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