Friday, October 16, 2026

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FxWirePro: NZD/USD struggles at channel top, upside to resume on breaks above

Antipodeans were supported overnight by positive risk environment, while the USD remained under pressure generally as housing data disappointed. Data released yesterday showed US housing starts fell 8.8% in March followi…

By FxWire Pro
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FxWirePro: NZD/USD struggles at channel top, upside to resume on breaks above
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  • Antipodeans were supported overnight by positive risk environment, while the USD remained under pressure generally as housing data disappointed.
     
  • Data released yesterday showed US housing starts fell 8.8% in March following an upwardly revised 6.9% gain in February.
     
  • NZ dairy prices rose 3.8% in last night's GDT auction. This was a notably stronger outturn than had been signalled by futures markets.
     
  • NZD/USD hit highs of 0.7054 on Tuesday and is currently trading around 0.7011 levels.
     
  • The pair finds strong channel top resistance at 0.7035, close above is required for further upside.
     
  • Our previous call (http://www.econotimes.com/FxWirePro-Kiwi-remains-strongly-bid-NZD-USD-hits-fresh-highs-for-the-month-at-06995-196976) is progressing hold for targets.
     

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By FxWirePro Team