NZD/USD chart - Trading View
NZD/USD hits new 32-month high at 0.7141, the highest level since April 2018.
Kiwi buoyed after New Zealand's Finance Minister squashes fears of intervention to stem the Kiwi's rise.
Robertson's comments indicate that authorities aren't worried about the disinflationary impact of the exchange rate strength and are unlikely to weaken the currency any time soon.
Further, on the data front, New Zealand’s Q3 GDP marked a V-shaped recovery with a 14% QoQ jump.
Price action is extending gains for the 7th straight session. The pair is extending gains above 78.6% Fib.
Technical bias for the pair is bullish. Scope for further upside on decisive break above 78.6% Fib. Next bull target lies at 200M MA at 0.7180.
Immediate support lies at 5-DMA at 0.7098. Break below 21-EMA will see further weakness.
