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Chart Of The Day: NZD/USD

Published 11/22/2021, 06:28 PM

NZD/USD Daily Chart.

USD/NZD is facing some support at .6950 following the renomination of the Fed Chair Jerome Powell. The risk is that the USD (which had a significant rally and hit a new 2021 high today) could rally against the NZD strongly if this confluence is broken. NZD/USD has been trading heavy in recent weeks, but the .6936 78% Fibonacci retracement of the September lows to October highs could allow for a move back to key support of .6860 and possibly .6800 in the week(s) ahead. 
 

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