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NZDUSD overview 11.03.2021

NZDUSD rises on dollar weakens.

NZDUSD under the bullish pressure today mainly under the effect of the dollar bearishness amid the mild “risk on” tone in currency markets and safe-haven dollar outflows, after U.S. CPI data calmed the inflation fears among the traders. Softer consumer prices data in the United States on Wednesday helped ease concerns about a possible rise in inflation as the US economy re-opens from the COVID-19 pandemic. This helped lift world shares to their highest in over a week, with the Dow Jones Industrial average marking a record close and U.S. Treasury yields easing from their recent spike – which is a dollar bearish signal and is helping the pair to rise.

Expect buyers on downward corrections.

Next resistance to watch – 0.7266

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