Ransquawk

The New Zealand dollar exchange rate has recently been very strong, mainly due to good economic readings, but also to the temporary weakening of tensions between China and the US. Up to now, these issues have had negative effects on antipode currencies, as it was feared that the weakening of the Chinese economy would translate into the entire region. Currently, it can be seen that the NZD / USD shows great strength, which is clearly visible on the weekly chart, where we have a clear reflection from a firm support. At D1, it is also interesting from the technical side, because the price has broken the trend line and has been breaking important resistance. too. It seems that we have an open road to around 78.00. Yesterday it turned out that the Japanese economy has weaker readings. GDP in the third quarter fell by 1.2%, while the decline of 1% was estimated. This translates into weak Yen, which may open the way for further NZD/JPY growth.

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Ransquawk