The NZDUSD is following the US greenback decrease and within the course of has moved as much as take a look at the 2024 excessive value which was reached on the primary day of the buying and selling 12 months (January 2, 2024).
That prime value was at 0.63248. The excessive value right this moment has reached 0.6325 – a fraction of a PIP above the earlier excessive.
Transfer above that stage and merchants will look towards the December 2023 excessive value which prolonged as much as 0.63684. That prime value was reached on December 28, 2023.
If you’re one for symmetry. If the excessive right this moment is just not damaged, and turns into the excessive for the 12 months, it might match the double backside which was reached on April 19 and August 6 (lows at 0.5851 and 0.5849 respectively). I’m uncertain that that dynamic has ever occurred.
Yesterday, the value motion moved increased and above a swing space between 0.6266 and 0.62728 (see crimson numbered circles on the hourly chart under and put up from yesterday HERE). The value traded above and under that space within the Asian and early European session right this moment earlier than breaking increased and lengthening increased within the late European morning/early US buying and selling interval. Do not forget that swing space going ahead. Nearer assist is available in at 0.6298 – the excessive value the tip of August.
