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NZD/USD Manages To Eke Out Gains Despite Headwinds

KIWI

Despite taking a hit on the back of negative vaccine news in Tuesday's Asia-Pac session, NZD/USD staged a dynamic recovery in London hours. The rate topped out at $0.6671 and turned its tail again, but a subsequent uptick allowed it to eke out some gains at the end of the day, even as concerns over U.S. fiscal talks and the aforementioned vaccine reports.

  • Much of this morning's news flow in New Zealand has centred around the general election.
  • NZD/USD last deals at $0.6652, virtually unchanged on the day. Bulls need to take out Oct 9 high of $0.6673 to gains some momentum and bring Sep 18 high of $0.6798 into view. Bears keep an eye on Oct 8 low of $0.6547. A break here would open up Sep 24 low of $0.6512.
  • RBNZ Asst Gov Hawkesby speaks later today, while BusinessNZ M'fing PMI comes out on Friday.

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