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
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.
Trading in the currency pair has been rather challenging the past week as a doses of volatility have confronted speculators.
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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.
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.
The New Zealand dollar initially tried to rally during the course of the trading session on Monday to break above the 200 day EMA as well as the 50 day EMA but has since fallen rather hard.
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In today’s analysis, we see that we are dancing around a couple of major moving averages.
Trading in the NZD/USD pair has been choppy, but has found the lower values of its known range a testing ground the past few days.
The New Zealand dollar has pulled back slightly during the trading session on Tuesday.
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Sign up to get the latest market updates and free signals directly to your inbox.Early trading this morning in the NZD/USD has seen the currency pair sustain a climb from support levels yesterday and produce cautious buying as the U.S Juneteenth holiday affects trading.