FXStreet – After a setback on the psychologically important mark of 0,7000, put the currency pair NZD/USD on the accelerator and jumped to a fresh Two-month High at 0,7068.
Finally, the currency traded pair in 0,7058 and to 0.50 per cent in the Plus. Thus, the new Zealand Dollar is likely to finish win for the second week in a row with rate. The persistent decline in US yields as a reaction to the last FOMC meeting minutes was a key factor behind the rise in demand for high interest currencies such as the Kiwi.
A part of the impulsive course of history is also likely to be on the so-called Short-covering due, after the bears had failed to recapture the psychologically important mark of 0.70.
However, the US Dollar Index seems to have in front of US economic data somewhat stabilized, and this has exacerbated the bullish Momentum around the currency pair something. In the USA, the Figures for the gross domestic product, durable goods and the University of Michigan collected the consumer will trust.
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The next Resistances lie at 0,7070, 0,7100 and 0,7110/15 (200-day line). On the downside, the next support can be found at 0,7045/40 and 0,7000.
** FXStreet News Editorial, FXStreet**