- NZD / USD bulls pushed the cross above the Q1 2019 double top on Friday, bringing the pair to its highest levels since 2018 and above 0.6950.
- Kiwi bulls appear eager to headline a strong 2021 anticipated for New Zealand, also emboldened by the country’s success against the virus.
The NZD / USD it is trading just below new multi-year highs above 0.6950 (highest since Q4 2018). Kiwi is the best performing currency in the G10 today, with NZD / USD trading higher by around 30 pips, or almost half a percent.
NZD / USD at the highest level since 2018
NZD / USD bulls pushed the cross above the Q1 2019 double top on Friday, bringing the pair to its highest levels since 2018 and above 0.6950. The next level to the upside is the Q4 2018 high at 0.6969. Still looking at the pair through a wide lens, the next significant levels of support on the downside are in the 0.6800 region.
Looking at the pair on a short-term horizon; the NZD / USD has been gaining within an uptrend gap since the European morning session on Thursday. A break below this trend line would open the door for a move back below 0.6900 and towards Thursday’s lows at 0.6880.
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