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NZD/USD Rate Holds Above 50-SMA to Target March High


NZD/USD Rate Holds Above 50-SMA to Target March High
2021-05-18 18:30:00
David Song,
Strategist
New Zealand Dollar Talking Points
NZD/USD approaches the monthly high (0.7305) as a growing number of Federal Reserve officials warn of a transitory rise in inflation, and the Federal Open Market Committee (FOMC) Minutes may keep the exchange rate afloat as the central bank appears to be in no rush to scale back its emergency measures.
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NZD/USD Rate Holds Above 50-SMA to Target March High
NZD/USD reveres ahead of the monthly low (0.7115) to hold above the 50-Day SMA (0.7139), and the exchange rate may continue to negate the head-and-shoulders formation from earlier this year as the Fed stays on track to “increase our holdings of Treasury securities by at least $80 billion per month and of agency mortgage-backed securities by at least $40 billion per month.” ....

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