NZD/USD Outlook (26 February 2021)
Overall, NZD/USD is trending upwards. Recently, NZD/USD weakened and broke above the 0.74 key level as a result of the surge in treasury yields that led to the strengthening of the USD.
During his speech at the Canterbury Chamber of Commerce earlier today, Reserve Bank of New Zealand (RBNZ) Governor Orr reiterated that the central bank will be holding monetary policy unchanged for an extended period of time and may cut interest rate further into the negative level if necessary.
Currently, NZD/USD is moving towards the key level of 0.74. Its next support zone is at 0.72850 and the next resistance zone is at 0.75300.
Look for short-term selling opportunities of NZD/USD if it bounces down from the key level of 0.74.
During his speech at the Canterbury Chamber of Commerce earlier today, Reserve Bank of New Zealand (RBNZ) Governor Orr reiterated that the central bank will be holding monetary policy unchanged for an extended period of time and may cut interest rate further into the negative level if necessary.
Currently, NZD/USD is moving towards the key level of 0.74. Its next support zone is at 0.72850 and the next resistance zone is at 0.75300.
Look for short-term selling opportunities of NZD/USD if it bounces down from the key level of 0.74.