NZD/USD (current price: 0.7187
The New Zealand Dollar has been among the best performing currencies last week, as Brexit fears eased and risk assets rallied globally. The currency is trading close to its previous high at 0.7275 compared to the USD, as it managed to stay above the all-important support zone near 0.70. Strong resistance is ahead for the pair at 0.72. The pair is expected to rise further especially if global sentiment continues to be positive. The RBA’s rate decision might cause volatility in the cross later on this week.
Our assessment: The Kiwi is currently the strongest risk-on currency as it trades within 100 pips of its 12-month high against the U.S. Dollar, despite the recent weakness in economic numbers in the region.
