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NZDUSD overview 17.08.2021

NZDUSD crushes on new covid-19 cases.

NZDUSD falling strongly today under the effect of the powerful bearish new Zeeland dollar sentiment – as the markets are reacting to the latest report showing that the country identified its first COVID-19 case since February, prompting the government to announce new short-term lockdown measures. NZD fell sharply as the result, extending losses around 0630 GMT when Prime Minister Jacinda Arden said that Auckland – where the case was reported – would go into lockdown for seven days, while New Zealand as a whole will have the toughest level of lockdown for three days. This is hurting the prospects of the imminent rate hike announced earlier by the central bank. The pair is also driven down by moderate USD bullishness on risk-averse sentiment as Asian shares were rattled by concerns about China’s plans to regulate the internet sector.

Expect sellers on upward corrections.

Next support to watch – 0.6881

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