forex NZD/USD：New Zealand Dollar Shows Strong Momentum

[Anzo Lim 0]

https://www.wikifx.com/cn_en/

Commodity currencies have performed well this month, especially the New Zealand dollar, which has performed best among the major currencies, and has now risen by nearly 4%. NZD has rose steadily since October, especially after leading indicators, such as business confidence, PMI survey and consumer confidence, have stabilized. Since then, the New Zealand dollar has continued to strengthen, while the good performance of the commodities further supported the currency.

The New Zealand government ’s mid-year budget overview shows that the Reserve Bank of New Zealand’s easing cycle has completed the relay from monetary policy to fiscal policy, offering strong support for NZD; but despite the recent strong rebound, the NZD against USD is still somewhat lagging behind the strong momentum of the fundamentals, as the current price of 0.67 is still below the expected short-term reasonable price of 0.71.

NZD/USD daily pivot points 0.6645---0.6657

S1 0.6637                  R1  0.6678

S2 0.6610                 R2  0.6692

Edited December 27, 2019 by Anzo Lim