Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: NZD/USD struggles at 200-DMA, kiwi depressed amid mixed trade data and Ukraine woes

Chart - Courtesy Trading View 

NZD/USD was trading 0.11% lower on the day at 0.6896 at around 08:45 GMT.

The pair finds stiff resistance at 200-DMA at 0.6910, decisive break above required for upside continuation.

NZIER Consensus Forecasts show an upward revision to the near-term growth outlook for the New Zealand economy, but softer growth is forecast for the subsequent year.

New Zealand's trade deficit widened in in February. Trade Balance dropped to $-837B from $-7.77B prior but improved on MoM to $-385M versus $-1126M previous readouts. 

The Imports declined to $5.88B from $5.92B prior whereas Exports rose past $4.88B previous readings to $5.49B.

Ukraine-led woes escalate as Russia pushes for surrendering Mariupol, keeping the antipodeans under pressure.

Technical bias for the pair is bullish. Watch out for break above 200-DMA for upside continuation.
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.