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NZDUSD overview 14.01.2021

NZDUSD rises on improved risk sentiment.

NZDUSD under the bullish pressure today on improved risk sentiment after it was reported that President-elect Joe Biden will announce a stimulus package of $2 trillion, while Japanese stocks surged to a new three-decade peak. The grow in industrial output in two of the main New Zealand trade partners also added to the bullish pressure on this currency pair. China’s exports grew more than expected in December and machinery orders rose for a second straight month in Japan – pointing to solid global demand.

Expect buyers on downward corrections.

Next resistnace to watch – 0.7240

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