buyers in NZDUSD
New Zealand dollar / US dollar
Understanding NZD/USD: A Comprehensive Guide NZD/USD is a commonly offered currency pair that represents the New Zealand dollar or the Kiwi and the US dollar. The pair is known for dealing with a commodity currency, i.e. the New Zealand dollar, which helps attract risk appetite for forex traders. Like its Antipodean counterpart, the Australian dollar, NZD/USD is seen as a carry trade, in part because interest rate differentials favor the New Zealand dollar. The New Zealand dollar is the seventh most liquid pair in the world at that time
Understanding NZD/USD: A Comprehensive Guide NZD/USD is a commonly offered currency pair that represents the New Zealand dollar or the Kiwi and the US dollar. The pair is known for dealing with a commodity currency, i.e. the New Zealand dollar, which helps attract risk appetite for forex traders. Like its Antipodean counterpart, the Australian dollar, NZD/USD is seen as a carry trade, in part because interest rate differentials favor the New Zealand dollar. The New Zealand dollar is the seventh most liquid pair in the world at that time
Read this term It attempted to break higher on Friday, moving above the 200 hourly moving average on the hourly chart and the swing level on the daily chart. However, the momentum failed and the price turned lower.
Before rallying on Thursday and Friday, the price broke below the 50% midpoint of the range since the 2021 low on the daily chart, opening the door for lower levels. This break also failed to drive the sudden surge higher.
So during the week, the sellers had the opportunity, and the buyers had the opportunity. Both failed.
As a result, the price returned to the neutral zone in the short term and waited for the next move.
Discover the key levels in play that will give traders clues in the new trading week.
