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Confirmation Of Travel Corridor Awaited

NZD

The greenback fell on Monday, opening up a move higher for NZD/USD, the pair moved as high as 0.7070 before running into offers, last trades at 0.7061, up 2 pips on the session. USD declined as stocks rose amid a supportive risk environment, while ISM data showed service providers in the US recorded the fastest pace of growth on record in March.

  • Having risen above the Mar 30 high of $0.7034 the 100-DMA at $0.7136 is now is focus. Minor support at $0.7034, while bears will look for a dip through Mar 25 low of $0.6943, towards the 200-DMA at $0.6883.
  • According to the Sydney Morning Herald New Zealand Prime Minister Ardern is expected to announce on today the start date for a trans-Tasman bubble with Australia, currently expected to start on April 19. The two-way travel corridor has been in the works since early in the pandemic but has been put on ice on multiple occasions due to COVID-19 outbreaks in both New Zealand and Australia.
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