The NZD/USD is the quote for the New Zealand Dollar, the base currency, quoted against the US Dollar, the quote currency.
NZD is the national currency of New Zealand and the legal tender of the Cook Islands, Niue, the Ross Dependency, Tokelau, and the British territory of the Pitcairn Islands. The New Zealand Dollar became the national currency of New Zealand in 1967, when it replaced the New Zealand Pound and its complex pounds, shillings, and pence system, or £sd, stemming from the Latin librae, solidi, and denarii.
July 10th, 1967, is Decimal Currency Day in New Zealand, the day the NZD and its decimal system replaced the New Zealand Pound at a rate of 2:1. The Reserve Bank of New Zealand printed approximately 27 million new banknotes and 165 million new coins for the changeover.
The New Zealand Dollar belongs to commodity currencies, referring to national currencies that move with commodity prices. Soft commodity prices can impact the New Zealand Dollar due to its exports of meat, dairy, fisheries, and wine, the top four exports, followed by forestry. New Zealand ranks among the most globalized economies, dependent on trade with China, Australia, the EU, the US, and Japan.
Most Recent
This morning’s early high was around the 0.60835 vicinity which touched values last seen on the 18th of July.
The US dollar and New Zealand dollar have been bouncing around against each other during the trading session on Tuesday, as it seems like we don't really know what to do
In my daily analysis of the New Zealand dollar, it looked initially like we were going to continue taking off to the upside, but it's probably worth noting that we have shown signs of exhaustion.
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The New Zealand dollar has exploded to the upside showing signs of strength yet again during the trading session on Wednesday mirroring what we saw on Tuesday.
The NZD/USD currency pair has not provided bullish traders with much opportunity for smiles recently.
I recognize immediately that we had gotten oversold.
Selling in the NZD/USD has been strong and support levels have proven vulnerable.
In my daily New Zealand dollar analysis, I see across the board that the Kiwi dollar has lost quite a bit of momentum after it initially tried to rally on Monday.
I recognize that we have recently bounced from a major support level in the form of the 0.6050 level.
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Trading in the currency pair has been rather challenging the past week as a doses of volatility have confronted speculators.
I recognize that we are pressuring a major support level in the form of 0.6050, and that of course could be a major, situation just waiting to happen.
The New Zealand dollar has fallen a bit during the trading session on Monday, as we continue to see a lot of noisy behavior.
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The NZD/USD currency pair is trading around 0.60870 as of this writing.
The New Zealand dollar has rallied a bit during the trading session on Wednesday, as we have seen quite a bit of momentum.
The NZD/USD is near its monthly low, but still traversing the higher elements of three month technical charts.