NZD/USD (current price: 0.7078)
The New Zealand Dollar is trading higher this morning as the GDP growth came in better than expected at a quarterly pace of 0.7%. The pair is now back above the crucial 0.70 level, but the negative international trends might drag it lower In the coming sessions, especially if Brexit fears persist. The negative trends in risk assets will likely outweigh the relatively strong growth data, as Asian economies are still acting weak.
Our assessment: NZD/USD is still in a short-term uptrend, despite the international headwinds, but the pair might face a deeper correction if the 0.7050 support breaks again.
