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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