The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD: main trend still bearish
2019-11-11 • Updated
The main trend is still bearish. There's a 'Double Top' pattern, which has been confirmed, so the price is likely going to test the nearest support at 0.6543 in the short term. However, previously we had a 'Thorn' pattern, so it's possible to have an upward correction little later on. So, if any bullish pattern forms thereafter, the pair could test the closest resistance at 0.6579 - 0.6687.
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!
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.