NZD/USD Price Analysis: Extends winning spell to 0.5960

NZD/USD rises to 0.5960 as US Dollar exhibits a weak footing ahead of US Q1 GDP data. The consensus shows that the US economy expanded by 2.5% in the January-March period. The New Zealand Dollar moves higher on improved demand for risk-perceived currencies. The Kiwi asset movers higher to 0.5960 as the US Dollar falls further amid concerns over United States economic outlook due to a sharp decline in new business inflows in April, showed by S&P Global preliminary PMI report.

NZD/USD trades close to the upper-end of the inventory adjustment phase in which Kiwi positions are exchanged between institutional investors and retail participants. It is difficult to designate the phase as “accumulation” or “distribution” before a decisive break. The Kiwi asset is expected to deliver a decisive move after the release of the US Q1 GDP data. Upward-sloping 20-period Exponential Moving Average at 0.5947 signifies a bullish near-term appeal for the New Zealand Dollar.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NZD/USD Price Analysis: Bears maintain control, short-term bullish flip on the horizonThe NZD/USD pair is currently trading at 0.5950, showing a 0.50% decrease in the session.
Source: FXStreetNews - 🏆 14. / 72 Read more »

NZD/USD Price Analysis: USD hold sway, short-term positive oscillations surfaceThe NZD/USD pair is currently trading at 0.5965, with a marginal gain of 0.13%.
Source: FXStreetNews - 🏆 14. / 72 Read more »

NZD/USD Price Analysis: Kiwi bulls find some light, bears command the broader stageThe NZD/USD was trading around the 0.6000 zone during Wednesday's session, reflecting an increase of 0.55%.
Source: FXStreetNews - 🏆 14. / 72 Read more »