The New Zealand dollar suffered the might of the USD following the hawkish hike from the FED but managed to weather some of the storms. The week leading to Christmas is packed with events from New Zealand. GDP and the milk auction stand out. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD.
The Federal Reserve not only raised rates but hinted at a more aggressive path for hikes in 2017. This sent the US dollar soaring. The kiwi fell to 0.70 before bouncing. In New Zealand, visitor arrivals rose by 2.2% in October, but the Business NZ Manufacturing Index slipped to 54.4 points.
Updates:
NZD/USD daily graph with support and resistance lines on it. Click to enlarge:
