NZD/USD set to race higher towards the 0.7462/0.7559 long-term pivot – Commerzbank

NZD/USD has broken above the 2021 downtrend and its 200-day moving average at 0.7101/04. The kiwi is expected to rally to the 0.7462/0.7559 long term pivot, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

NZD/USD has reversed from its 200-week ma

“NZD/USD yesterday broke above the 2021 downtrend and its 200-day ma and its 55-week ma at 0.7101/04, this was one tough nut to crack and the break above here should lead to some further dollar weakness.”

“Target 0.7462/0.7559 long-term pivot.” 

“Based ahead of the 200-week ma at 0.6765.”