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NZD/USD Operates Near Cycle Highs

NZD

NZD/USD wavered around the $0.7000 mark Thursday, sticking to a tight range through the day, as the Thanksgiving holiday in the U.S. limited activity.

  • The rate sits at $0.7004, little changed on the day. A break above Thursday's high of $0.7015 would turn focus to Jun 6, 2018 high/76.4% recovery of the 2017 - 2020 sell-off at $0.7060/65. Bears keep an eye on Nov 23 low of $0.6897 and a break here would open up Nov 17 & 18 lows of $0.6876.
  • Looking ahead, final ANZ Business Confidence hits the wires Monday, CoreLogic House Price Index comes out Tuesday, terms of trade will be released Wednesday, building permits are due Thursday, with volume of all buildings coming up Friday.

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