NZD/USD chart - Trading View
NZD/USD was trading nearly 0.46% higher on the day at 0.7251 at around 04:50 GMT. Broad-based U.S. dollar weakness pushing the pair higher.
The latest monetary conditions survey conducted by the Reserve Bank of New Zealand (RBNZ) showed on Tuesday that NZ inflation expectations rise further in Q1.
Two-year inflation expectations rose to 1.89% from 1.59% last. While, NZ Q1 average 1-yr inflation expectations rose to 1.73% vs. 1.23% seen in the last quarter.
NZD/USD hits 5-week highs at 0.7254 before easing slightly. Technical indicators are are turning bullish.
Analysis of GMMA indicator shows major trend is bullish and minor trend is turning bullish again. Momentum is with the bulls and volatility is high.
After consolidating near 78.6% Fib, the pair is set to resume upside. Scope for test of 88.6% Fib at 0.7320.
