Today, the New Zealand dollar fell with the red candle tag showing on the graph against the US dollar. The fall brings the price of the NZD/USD currency pair to less than 0.7100. 

When we look at the graph, it comes to know that NZDUSD suffered in September, although a few days ago its moves ahead.

When we turned our attention to the US launches in September, we noticed several updates that continuously valued the US dollar and depreciated the NZ dollar. We have just highlighted some recent updates;

On September 24, 2021, the US Census Bureau revealed the number of new home sales. FXStreet.com registered it at 0.74 million in August compared to a month before data of 0.708 million.

The number of new home sales is an indicator of the state of the housing market. As a result of the money spent furnishing and financing their residences, demand for goods, services, and personnel might increase. A high rating is considered bullish for US Dollar.

And then, the news of durable goods orders, released today with the status of 1.8% in August compared to the month before reading of 0.5%.

Durable Products Orders gauge the cost of orders received by manufacturers for durable goods, such as automobiles and appliances, that last three years or longer. Because durable goods often entail considerable investments, they are affected by the state of the US economy. The final graph depicts the current state of production in the United States. In general, a high reading for the USD is optimistic.

Conclusion

In the short to medium term, purchasing the NZDUSD pair at current levels could be a wise trading decision, considering the consistent bullish movements over the last three trading days.