Overall, NZD/USD is trending upwards. Recently, NZD/USD broke the resistance level of 0.61200.
Earlier today, in the released financial stability report, the Reserve Bank of New Zealand (RBNZ) concluded that New Zealand’s financial system is in good position to support recovery from the COVID-19 pandemic. The implemented fiscal and monetary policies have cushioned the near-term financial impact. Also, stress tests results suggest that banks can withstand a broad range of adverse economic scenarios while retaining sufficient capital to continue lending.
The ANZ Business Confidence data (Forecast: NA, Previous: -45.6) will be released tomorrow at 0900 (SGT).
NZD/USD’s next support level is at 0.61200 and the next resistance level is at 0.63800. Look for buying opportunities of NZD/USD.