NZDUSD rises on hopes for a global economic recovery.
NZDUSD under bullish pressure with the kiwi set to post the best month since 2013. NZDUSD is rising on the back of the continued risk-on sentiment which is expressing itself via the NZD bullishness as the well as the USD bearishness. The risk on sentiment continues to be resilient in the fact of the exponentially growing COVID-19 infections numbers worldwide and hospitalizations reaching record highs in the United States – highlighting the fact that the global investors are pricing in a brighter 2021 –following Joe Biden’s U.S. election victory, positive COVID-19 vaccine announcements and a commodity markets surge.
Expect buyers on downward corrections.
Next resistance to watch – 0.7050
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