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Wednesday, May 25, 2022

NZDUSD Standing at the Strong Resistance Level
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NZDUSD Technical Analysis

NZDUSD is moving in an uptrend by forming higher highs and higher lows.

Now, the NZDUSD price is standing at the top level (higher high) + strong resistance level in the weekly chart.

nzdusd reached the strong resistance level

Expecting a retracement from this zone.

New Zealand Dollar climbed to a high price level as RBNZ states interest rates unchanged and larger policy shifting has no changes yet.

RBNZ reserve bank of new zealand

In 2021, the central bank will prefer negative rates which are applicable according to the economic situation. Large scale asset purchases up to NZD100 billion will continue in current time to recover economy and stability.

Economic indicators like consumer spending, asset prices and employment numbers are in better response from Covid-19. This circumstance makes interest rates unchanged and the New Zealand dollar gets boosted.

Dollar edges higher as Corona Vaccine hopes and Joe Biden as a new President.

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