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- NZD/USD leans bullish towards 0.6200 hurdle on firmer options market signals
NZD/USD leans bullish towards 0.6200 hurdle on firmer options market signals
NZD/USD renews intraday high around 0.6195 as bulls attack a three-week-old horizontal resistance near 0.6200, during Friday’s Asian session.
The kiwi pair’s latest gains could be linked to the upbeat signals from the options market, via the risk reversal (RR), spread between the call options and the put options.
That said, the NZD/USD pair’s daily RR printed the strongest figure in two weeks the previous day, to +0.155.
On the same line, the weekly RR figure also reversed the previous -0.260 with a positive 0.185 number at the latest.
It’s worth noting that the market’s preparations for the US employment data for June and an absence of major negatives could also be linked to the NZD/USD pair’s recovery moves. Further, repeated comments from the major central bankers and efforts to tame recession fears join headlines from China to keep the Kiwi pair buyers of late.
Also read: NZD/USD traders are getting set for the US NFP
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