General analysis NZDUSD for 30.03.2022

Current Dynamics.

The New Zealand authorities decided to ease the sanitary restrictions since April 4 despite the remaining difficult situation with the pandemic coronavirus SARS-CoV-2. New Zealand will maintain the presence of its peacekeeping forces in the Solomon Islands.

Starting from April 4 New Zealand authorities decided to ease the restrictions related to the pandemic coronavirus SARS-CoV-2. According to the country's Prime Minister Jacinda Ardern the peak of the pandemic is already passed and the level of vaccination among New Zealanders is at a high level. So no more vaccination documents will be required to visit any government or public institutions.

The defense agreement between China and Solomon Islands is of concern to a number of countries, including New Zealand. Despite this, the head of the Defense Ministry of New Zealand, Peeni Henare announced that New Zealand military personnel would continue to arrive in the Solomon Islands as part of the international contingent of the security partnership until 31 May.

Meanwhile, Trade and Consumer Affairs Minister David Clarke has announced a tightening of laws as part of a crackdown on terrorist financing, money laundering and tax evasion.

The U.S. March Consumer Confidence Index released yesterday was slightly better than forecasted at 107.2 instead of the expected 107 points. The number of new openings in the US labor market stood at 11.266m, 0.266m above the experts' expectations.

However, the U.S. housing prices rose 19.1% YoY in January.

The number of new building permits in New Zealand has increased by 10.5% in February.

At the same time business activity index in New Zealand amounted to 3.3% which indicates entrepreneurs' optimism in the short term.

Today at 14:15 (GMT+2) the U.S. ADP Nonfarm Employment Change will be released. Later at 14:30 (GMT+2), U.S. GDP data for the fourth quarter will be released. Experts expect growth of 7.1%.

Support and resistance levels.

NZD/USD quotations returned to growth after declining to the key Fibonacci 100 level. The current trend is upward. The RSI oscillator crossed the 50 level from the bottom to the top and continued growing towards the 70 level.

• Support levels: 0.6891, 0.6805, 0.6753, 0.6614, 0.6529
• Resistance levels: 0.7113, 0.7055, 0.6980

Trading scenarios

• Long positions can be opened from the current level with target 0.7050 or 0.7113 and stop-loss 0.6810 Implementation period: 2-4 days
• Short positions can be opened below the level of 0.6810 with a target of 0.6753 and stop-loss 0.6980 Implementation period: 2-4 days