ByJin Dao Tai
MAY 10, 2021
Overall, NZD/USD is trending upwards. Recently, NZD/USD trended into the resistance zone of 0.72850.
The New Zealand Inflation Expectations q/q data (Actual: 2.05%, Forecast: NA, Previous: 1.89%) released last Friday indicated that inflation in the medium term is expected to be close to the Reserve Bank of New Zealand’s target of 2%.
Currently, NZD/USD is testing the resistance zone of 0.72850 and the next support zone is at 0.71000.
Look for buying opportunities of NZD/USD if it breaks the resistance zone of 0.72850.
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