The NZD USD currency pair is a fairly exotic currency pair on the Forex market. But what is NZD to USD? This instrument is a ratio of two currencies: the New Zealand dollar to the USD exchange rate. The exchange rate NZD to USD gained popularity after the “commodity boom ” in the economies of developed countries.
It is important to mention that the NZD USD conversion rate was fixed by the New Zealand regulator at 1.38 US dollars for 1 New Zealand. Today, the exchange rate NZD to USD has changed significantly due to the serious devaluation of the British pound and the decoupling of the US dollar from the gold standard.
According to financial experts who utilize the NZD USD chart, the New Zealand dollar to USD exchange rate largely depends on commodity prices. The exchange rateNZD to USD is highly dependent on the volume of exports of goods. The NZD to USDtrend is significantly correlated with oil prices for non-ferrous and ferrous metals and other raw materials.
NZDUSD technical analysis
When analyzing NZDUSD technical analysis on the NZ dollar vs US dollar graph, you immediately need to look at important macroeconomic indicators (GDP, consumer price indices, sentiment, unemployment, rate, and others ). Among the important indicators on the NZDUSD chart may be data on agriculture – this is the main part of export goods.
The NZDUSDlive chart shows the highs and lows in recent years are important resistance and support levels. In the long term of using the NZ US dollar graph, they can act as targets or benchmarks for setting stop losses and take profits. It is recommended to pay attention only to the strongest NZD USD fx rate forecasts to actively buy or actively sell.
But what is the best time to tradeNZDUSD?
The NZDUSD trading hours will appeal to traders who work on unhurried and measured trends. During the European trading session from 10:00 to 18:00. In New Zealand itself, trading is conducted from 0:00 to 8:00.
Nevertheless, intraday jumps on the NZD USDexchange rate graph rarely exceed 100 pips, which prevents the investor from losing all of his deposits in a short period.
NZD USD news
The NZ dollar to USD rate mainly depends on two fundamental factors – prices for agricultural products and weather conditions, which can lead to loss of crops. Strange as it may seem, it is an unfavorable weather forecast that can cause the largest price drop in the New Zealand dollar in USD.
You can find out the factors influencing the rate of the US dollar to New Zealand from the NZDUSD news today. Using the NZDUSD live forex chart, you can forecast the upcoming change in the fx rate NZD to USD or any other on the forex market.
The NZDUSD live forex chart shows that strong impulses are not uncommon, especially when important economic NZD USD news is released for New Zealand or the United States.
Novice traders who are learning how to trade and convert NZ dollars to US dollars can use the AtoZMarkets platform to get the NZD USD latest news.
On this site, we provide NZDUSD live forex chart for anyone to view and make a high-quality forecast for the New Zealand dollar to the USD exchange rate for tomorrow and today.