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NZD/USD cheers improvement in New Zealand business confidence, jumps 23 pips

  • The NZD picked up a bid soon before press time as the New Zealand business confidence improved slightly in December.
  • NZD/USD jumped 22 pips to a session high of 0.6829 and is now trading at 0.6817.

The NZD/USD jumped 22 pips after the data released in New Zealand showed that level of pessimism among firms waned somewhat in December.

The NZD business confidence rose to -24.1 in December from the November's print of -37.1. The business confidence survey has shown persistent pessimism since the Labor-led coalition government was formed last year. That is somewhat confounding as the economy has remained resilient in the face of rising global uncertainty.

With business confidence out of the way, the focus now shifts to the New Zealand third quarter GDP data, which is expected to show that the economy expanded at an annual pace of 2.8 percent. The global dairy trade auction, due today, could also influence the NZD pairs.

At press time, NZD/USD is trading at 0.6816, having clocked a high of 0.6826 a few minutes ago.

NZD/USD Technical Levels

NZD/USD

Overview:
    Today Last Price: 0.6818
    Today Daily change: 12 pips
    Today Daily change %: 0.176%
    Today Daily Open: 0.6806
Trends:
    Previous Daily SMA20: 0.6848
    Previous Daily SMA50: 0.6714
    Previous Daily SMA100: 0.667
    Previous Daily SMA200: 0.6845
Levels:
    Previous Daily High: 0.6819
    Previous Daily Low: 0.6785
    Previous Weekly High: 0.6912
    Previous Weekly Low: 0.6778
    Previous Monthly High: 0.6887
    Previous Monthly Low: 0.6514
    Previous Daily Fibonacci 38.2%: 0.6806
    Previous Daily Fibonacci 61.8%: 0.6798
    Previous Daily Pivot Point S1: 0.6788
    Previous Daily Pivot Point S2: 0.6769
    Previous Daily Pivot Point S3: 0.6754
    Previous Daily Pivot Point R1: 0.6822
    Previous Daily Pivot Point R2: 0.6838
    Previous Daily Pivot Point R3: 0.6856

 

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