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Tue, Feb 20, 2024

Breakout at the trend line and old resistance = new support now
1 mins well spent

NZDUSD Analysis

Recently, NZDUSD has broken the bottom level of the Uptrend line.

If NZDUSD continues to fall, then it will retest the broken level of the previous resistance zone which will act as a new support zone now.

New Zealand Dollar showed the rebound back as vaccination helping more to cure pandemic well.

And US Government may take action against China on Hongkong matters but remain calm under Biden Administration.

This type of Geopolitical tensions creates pressure on Riskier currencies like New Zealand and the Australian Dollar.

Housing price under controll

And Housing prices now came under control as remedies are taken to cut the booming prices of Houses.

Due to these scenarios, the Investor makes a bet on US Dollar, and funds flow from Riskier currencies to Stable currencies.

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