NZD/USD set to race higher towards the 0.7462/0.7559 long-term pivot – Commerzbank

Market news

19 October 2021

NZD/USD set to race higher towards the 0.7462/0.7559 long-term pivot – Commerzbank

NZD/USD has broken above the 2021 downtrend and its 200-day moving average at 0.7101/04. The kiwi is expected to rally to the 0.7462/0.7559 long term pivot, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

NZD/USD has reversed from its 200-week ma

“NZD/USD yesterday broke above the 2021 downtrend and its 200-day ma and its 55-week ma at 0.7101/04, this was one tough nut to crack and the break above here should lead to some further dollar weakness.”

“Target 0.7462/0.7559 long-term pivot.”

“Based ahead of the 200-week ma at 0.6765.”

Japan: Trade Balance Total, bln, September -622.8 (forecast -519.2)

Commodities. Daily history for Monday, October 18, 2021

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