The rapid downward trend was completed in late November. The NZD was under pressure because of the political situation in New Zealand and the RBNZ's monetary policy. The minimum has been reached but now the NZD has found incentives to counter the U.S. dollar.
Amid the lack of economic and political events that could significantly affect the rate of NZD/USD, the New Zealand dollar managed to strengthen against the USD due to the growth of commodity prices. Data published last week showed an increase in the trade deficit of New Zealand, in particular, import growth by 26% to a record level of 5822,58 million NZD, which did not change the situation.
Thus, the upward trend is becoming more pronounced, but the situation can change quickly in January. Oscillators (MACD, RSI, Stochastic) unanimously indicate a suitable time to open the short deals against the trend, pointing to rates in the overbought zone, though this does not mean a trend reversal. At the moment we can expect only a significant price correction, which can start in the near future. Therefore, it is not necessary to wait for January to open deals with the NZD/USD pair. You can do it even now.
