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The New Zealand dollar shows active growth, developing the "bullish" momentum that formed on the market on Wednesday, December 7. The growth of the NZD/USD pair is taking place against the backdrop of a correction in the US currency, which awaits the last two-day meeting of the US Federal Reserve in 2022 next week. Current forecasts suggest that the interest rate will be increased by 50 basis points in response to some improvement in the dynamics of consumer inflation, which fell to 7.7% in October. In addition, traders are closing long positions on the US currency ahead of today's publication of November statistics on producer inflation in the US. The market expects that the figure may slow down from 8.0% to 7.4%, which will give the regulator additional room to maneuver.

In turn, the macroeconomic statistics released the day before from New Zealand failed to significantly affect the dynamics of the instrument. Electronic Card Retail Sales in November increased by only 0.3%, slowing down from 1.0% in the previous month, and in annual terms, the figure fell from 16.6% to 7.1%, which turned out to be significantly worse than the forecasts of analysts at the level of 12.9%. At the same time, Manufacturing Sales in the third quarter rose by 3.1% after falling by 4.9% in the previous period, while analysts had expected -2.4%.

Bollinger Bands on the daily chart show a steady increase. The price range is slightly narrowing, reflecting the emergence of multidirectional trading dynamics in the short term. MACD is growing preserving a weak buy signal (located above the signal line). Stochastic is reversing upwards after quite an active decline at the beginning of last week. The current showings of the indicator do not contradict the further development of the upward trend in the ultra-short term.

Resistance levels: 0.6400, 0.6450, 0.6500, 0.6535. | Support levels: 0.6350, 0.6288, 0.6250, 0.6200.