The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD broke pivotal support level 0.7200
2019-11-11 • Updated
- NZD/USD broke pivotal support level 0.7200
- Next sell target - 0.7200
NZD/USD today broke below the pivotal support level 0.7200 (which has been reversing the price from the start of February, as can be seen below). The breakout of support level 0.7200 accelerated the active minor impulse wave 3, which belongs to the intermediate impulse wave (3) from the middle of February. NZD/USD is expected to fall further toward the next sell target at next support level 0.7200.
The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.
Jump in to get the technical analysis of EUR/GBP, GBP/USD, and gold!
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.