NZD GDP beat boosts the NZD

Governor Orr had been cautious on the future path of New Zealand's rate hikes citing lack of business confidence as one of the key reasons. However, feelings can be deceptive as the NZD put in a beat of it's GDP data at 1.0% q/q/ vs 0.8% expected. It seems the maxim, 'there is no smoke without fire' was true in regard to the NZ's pm who had said a couple of days ago that she had seen the GDP figures and was, 'pleased'. She was right to be pleased.

The risk on sentiment is also continuing in the market as the US China trade war tariffs have not been weighing on sentiment and commodity currencies had been getting a boost in the run up to the data, so a NZD/USD long looks good for today.

There are three good, low risk places to go long NZDUSD today.

The first place is on the 15 minute chart around the 0.6600 handle. It is also the pivot point and the 200MA region.

The second place is on the 4 hr chart with a retest of the 200 MA.

The third place is on a test and support of the 50, 100, and 200 MA on the 15 minute chart.

Take your pick folks!