NZDUSD Chart Technical Outlook is gaining upside traction, 0.5930 and 0.6060 are the next targets
The Kiwi has been the best performer of the G7 currencies this week. Investors’ confidence that the Federal Reserve has reached its terminal rate has boosted risk appetite, pushing the pair nearly 2% higher in the weekly chart.
Later today a batch of key US indicators, with a special interest in October’s Nonfarm Payrolls data might help the pair to extend its recovery.
Technical indicators are turning up although the broader trend remains negative, A successful break of 0.5930 and 0.6060 would confirm a trend shift.
Supports are 0.5860 and 0.5770.