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Monday, 23 October 19:46 (GMT -05:00)



Foreign exchange market

Trade Balance Stats Support New Zealand Dollar


 

 

The New Zealand Dollar remains strong despite the fact that the negative economic and financial situation in the eurozone in general and Cyprus in particular keeps affecting global financial markets.

 

 

 

 

 

 
Still, Chris Hunter from Western Union Business Solutions says that NZDUSD may show a bearish move in the near future as investors feel skeptical about the Cyprus bailout. He says that concerns dominate the markets.
 
However, the New Zealand Dollar has been supported by positive stats coming from the country’s external trade sector. In February 2013, the external trade surplus reached NZD414 million, which looks optimistic after a deficit a month before.
 
Forex.
 
  According to Masterforex-V Academy, the New Zealand Dollar keeps strengthening against the US Dollar. The experts report that NZDUSD is forming a big-scale upswing represented by wave А/В of level Daily.
 
A further rally will probably encounter resistance around 0.8441/45. The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 0.8209 (as shown below).
 

 

 

 

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