NZD/USD up 0.12% on the day at 0.7317

Currently, NZD/USD is trading at 0.7317, up 0.12% on the day, having posted a daily high at 0.7335 and low at 0.7283.

NZD/USD has rallied on the back of broad-based dollar weakness while the DXY drops back towards the 100 level, 20 pips shy. Volatility is here to stay and offers good two-way business.

Investors are jumping from one asset class to another searching for both yield and safety in uncertain times under Trump's presidency in the absence of concrete data fundamentals. NZD/USD holds intrinsic value in respect to its economy and Central Bank that is on solid foundations and able to hold rates steady this meeting around. 

"We expect the RBNZ to remain on hold at 1.75% at Thursday'sMPS, and to retain a neutral bias, which shouldn't ruffle markets much. There's a small risk of a hawkish shift," explained analysts at Westpac. 

NZD/USD levels

From the start of February, the 200 sma on the 1hr sticks has been holding dips as bulls attempt a break-out above 0.7300 and away from the now supporting but previous descending resistance line from 0.7482 and 8th September highs. The price is on target for such a break with 0.7500 as a milestone target. to the downside, a break below ascending support and the 200 sma at 0.7162, 0.7050 and 11th July highs comes before the psychological 0.7000 level.