More nations are looking for strategies to protect economic activity via the Omicron surge, which is pushing the New Zealand Dollar higher early Thursday. However, trade volume remained low since the end of the year is swiftly approaching. The New Zealand dollar fell early in the day due to “risk-off” sentiment, which was the dominant theme on Wednesday. A transition to a more “risk-on” mentality occurred later on in the day. When this happened, the NZD/USD hit its highest level since December 1 as a result of the resulting whipsaw.
0.68220 serves as support while 0.68340 serves as resistance. Currently the price is below the Pivot Point at 0.68280. Between the EMAs of 100 and 200, the EMA of 10 is trending higher. There is a strong rising trend in the RSI and the MACD, with both indicators above the 50 mark. The Stochastic oscillator is now moving towards oversold territory. ADX is trending down.
The price is above the Ichimoku Cloud and the Chinkou Span is near the market price. The Tenkan-sen and the Kijun-sen are both showing a slight bullish movement.

• There is resistance at 0.68340, followed by resistance at 0.68400 and 0.68460.
• There is support at 0.68220 Below, there is 0.68160 and 0.68100.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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