The New Zealand Dollar is still trading around the 7-month high. According to HSBC, the New Zealand currency is still in high demand.
The following factors support the demand for the NZ Dollar:
· Investors are more willing to invest in riskier assets.
· The Federal Reserve’s QE3.
· Higher export prices on dairy products.
Moreover, New Zealand Economy is benefitting from the reconstruction of Christchurch and the national economy is supported by this factor as well.
Nevertheless, HSBC experts assume that the future dynamics in the market of NZDUSD will depend on the forthcoming news from China scheduled for this week.
Forex.
According to , the New Zealand Dollar keeps strengthening against the US Dollar. The experts report that NZDUSD is a big-scale upswing represented by wave А/В of level Weekly2.
A further rally will probably encounter resistance around 0.8470. If the price breaks above the level, we will see the end of the long-term downtrend.
