21.07.201705:09 Forex Analysis & Reviews: Fundamental Analysis of NZD/USD for July 21, 2017

NZD/USD has been in a non-volatile bullish trend recently which is expected to continue further until 0.7500 resistance level is reached in the coming days. Today NZD Visitor Arrivals report showed an increase to 5.1% which previously was -1.4%, as tourism plays a significant role in the New Zealand economy the report has a direct impact on the country's GDP resulting to good impact on the currency growth. Along with it, NZD Credit Card Spending report is also published today with a growth to 8.3% which previously was at 7.6%. On the USD side, the positive unemployment claims report yesterday which was published at 233k which was expected to be at 245k from the previous value of 248k, USD could not quite dominate the growth of the NZD which signals the strength of NZD to persist further in the coming days. Today there are no economic events on the USD side which might lead to further gain on the NZD in the future.

Now let us look at the technical view, the price has been quite non-volatile recently with the bullish momentum which could not properly violate the dynamic level of 20 EMA. As the price remains above the 20 EMA further bullish pressure towards 0.7500 resistance level is expected in the coming days.