Global Dairy Trade Price Index in New-Zealand was released yesterday. According to GDT, it grew 0,8%. The New-Zealand dollar is feeling well now. Today we are looking at NZD/USD. We think that the current situation is favorable for bulls. And here are some reasons why…
On the 1D TF the pair touched the support level 0,6750. Williams %R is moving back to the working zone.
On the working 4H TF several signals appeared simultaneously. The Parabolic SAR reversed and started moving up, the MACD line broke the signal line up (before this there was a divergence between the price and MACD histogram). The pair broke the trend line up. The Williams %R started returning to the working zone. In our opinion, it is possible for the New Zealand dollar to rise. The targets are 0,6829 and 0,6851.
Of course, the most important news for the US dollar is Friday's Nonfarm Payrolls. The forecast is +170K new working places.