NZD/USD chart - Trading View
NZD/USD was trading 0.27% higher on the day at 0.6946 at around 05:05 GMT, edging slightly lower from new 23-month high at 0.6963 hit earlier on the day.
Kiwi buoyed after a big beat on New Zealand’s Retail Sales data. Rising vaccine optimism which supported risk-on also pushing prices higher.
Data released earlier today showed New Zealand retail consumer spending jumped by 28% QoQ in Q3, beating market expectations at 20%.
Vaccine hopes rise as Regeneron’s anti-body treatment gets FDA’s approval. Successful vaccine trials-led risk-on mood also adds to the strength in the Kiwi.
NZD/USD trades with a strong bullish bias. The pair is extending gains above 200W MA and is on track to test 78.6% Fib at 0.7111.
On the flipside, 5-DMA is immediate support at 0.6919. Break below could see minor weakness. Retrace below 200W MA will negate any bullish bias.
