New Zealander is under pressure

The New Zealand dollar fell sharply against the US dollar at the beginning of Thursday’s trading, after reports that the first leader Peters supports the Labor Party, displacing the National. Investors are concerned that the new government’s policy on a possible reduction in immigration can restrain economic growth. Read more …

Technical analysis: Based on the changes in the New Zealand government, the NZD/USD pair has updated the minimum mark for the last 4 months, found support at 0.7037. Also have a closer look at my analysis of the pair of October 16.

Computer analysis: On the H1 chart, the Stochastic Oscilliator movings are below level 25, which indicates the resale of the instrument and it signals an upward correction in the price.

Key recommendations: The main recommendation will be the sale of the instrument from the level of 0.7100, which also meets the level of 38.2 by Fibonacci on H1.

Fig. Current price of NZD/USD is 0.7050

Alexander Sivtsov