July 08, 2022 - 01:06 PM 302 views
During Friday's Asian session, bulls attacked a three-week-old horizontal barrier near 0.6200, causing the NZD/USD to reach a new intraday high around 0.6195.
The risk reversal (RR) spread between the call and put options suggests that the recent advances in the kiwi pair may be related to the positive signals from the options market.
Despite this, the NZD/USD pair's daily RR printed the day before the highest value in two weeks, at +0.155.
The weekly RR figure likewise changed from the prior -0.260 to a positive 0.185 value at the latest along the same lines.
It's important to note that the market's preparations for the June US employment report and the lack of any significant downsides may also be responsible for the pair's recovery moves. Additional remarks from influential central bankers and initiatives to allay recession fears join recent news from China in keeping Kiwi pair buyers.
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