- The NZD / USD extended the positive tone, driven by the weakness of the dollar.
- Going up in the stock markets contributes to the demand for riskier assets.
The NZD / USD extended the bullish run and climbed to 0.7198, the new high since April 2018. It remains close to 0.7200, with the bullish tone intact, even despite the overbought indicators in the short term.
The pair in this way is increasing weekly gains on Wednesday. The optimistic mood prevailing in equity markets continued to weigh on the US dollar, while favoring the kiwi.
The mood in the markets was affected for a moment Tuesday after the bill to increase the amount of aid checks in the US was blocked in the Senate. On Wednesday, mood lifted with news that UK regulators approved the use of the AstraZeneca / Oxford coronavirus vaccine.
The main support for the NZD / USD continues to be the weakness of the dollar. The volume of operations in the market remains low as a result of the year-end holidays. Data from the US will be released, including the pending home sales report.
Technical levels
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