NZD/USD flirts with 0.6600, looks to break away from the recent highs

The kiwi is one of the beneficiaries from the more positive risk mood today, with price action now testing the 0.6600 handle as buyers are looking poised to try and go in search of a firm break above the figure level to fresh highs since January.

 

The resistance region around 0.6585-00 have helped to limit gains recently but that appears to be giving way amid the more buoyant risk mood, with European equities rallying alongside a positive glow in US futures (E-minis up ~0.7%).

 

If buyers can keep a firm break and close above 0.6600, that will be a good platform to build on for further gains towards the 31 December high @ 0.6756 next.

 

It is all about the risk mood at the moment in the market, and we are also seeing the aussie break out to its highest levels since July 2019 against the greenback.