NZD: strongly up

NZD: strongly up

2020-11-23 • Updated

NZD/USD hit the two-year high. Will it keep rallying?

What happened?

Every Monday vaccine news encourages us! Just recently Pfizer and Moderna have unveiled that their vaccines are 95% effective. Today, we have known that the USA is planning to start vaccination in three weeks, while the UK – next week. Therefore, investors anticipate the soon end of the pandemic and stream their capital to riskier assets such as the New Zealand dollar.

In addition, New Zealand published upbeat retail sales. Analysts expected sales would rise by 20.0%, while they increased by 28.0%. That offset all the losses of the previous quarters. As a result, the kiwi skyrocketed to highs unseen since 2018.

Technical tips

NZD/USD set a strong uptrend. The move above the key psychological mark of 0.7000 will drive the pair to a resistance of the next round number at 0.7050. In the opposite scenario, if it fails to break 0.7000 and reverses, it may fall to Friday’s low of 0.6870, clearing the way to the next support of 0.6820.

NZDUSDH4.png

TRADE NOW

Similar

WTI and Brent React To a Key Pivot
WTI and Brent React To a Key Pivot

Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...

XBRUSD: Prepares to Correct Intraday Rally
XBRUSD: Prepares to Correct Intraday Rally

Bearish Scenario: Sales below 80.00 with TP1: 79.34, TP2: 78.94, TP3: 78.55, and 78.00 Bullish Scenario: Buys above 78.00 (wait for a retracement to the zone) with TP: 79.34 TP2: 80.00, and TP3: 81.00

Latest news

US100: Has the correction ended?
US100: Has the correction ended?

Bullish Scenario: Buys above 17910 with TP:18098.07, TP2:18277, and TP3: 18415 Bearish Scenario: Sells below 17850 with TP1:17730, TP2: 17700

Stocks To Watch For March
Stocks To Watch For March

During his program on CNBC on February 28, Jim Cramer expressed frustration with the impact of earnings reports on market behavior, noting how they often prompt rash decisions by average investors. He criticized the short-term focus and lack of attention to nuance in news coverage of earnings. Cramer cited examples of Home Depot and Lowe's, highlighting how investors reacted hastily to headline news without considering the broader context provided in earnings calls.

Nasdaq, S&P 500 Reach Record Highs
Nasdaq, S&P 500 Reach Record Highs

After creating record highs, Wall Street's main indexes opened on Wednesday and began to edge lower, reflecting cautious sentiment among investors. They're eagerly awaiting crucial inflation data that could impact the U.S. Federal Reserve's interest rate decisions. The upcoming release of the personal consumption expenditures (PCE) price index is expected...

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera