All Articles Tagged - NZDUSD

Technical Analysis – Is it time for a correction in NZDUSD?

Posted on November 22, 2023 at 8:23 am GMT

NZDUSD in the red today after recording a new higher high Bulls took advantage of the widespread USD underperformance The stochastic oscillator could turn bearish soon NZDUSD is edging lower, reacting to Tuesday’s 3-month high of 0.6085. It has been an aggressive rally from the November 1 low of 0.6017 as the NZDUSD bulls took advantage of the recent widespread USD weakness. They have managed to establish a bullish series of higher highs and higher lows but the next local [..]

Technical Analysis – NZDUSD extends advance towards 200-day SMA

Posted on November 21, 2023 at 3:54 pm GMT

NZDUSD in a steady uptrend since October 26 Breaks above crucial levels and is ready to test the 200-day SMA Momentum indicators suggest more gains in the near term NZDUSD has been staging a solid rebound from its 2023 low of 0.5772, aiming to erase a part of its long-term downtrend. Although the short-term oscillators suggest an intensifying positive momentum, the price is hovering very close to the upper Bollinger band, which could indicate overbought conditions. If buyers attempt to push the price [..]

Technical Analysis – Could NZDUSD enter a new downtrend?

Posted on November 16, 2023 at 9:12 am GMT

NZDUSD in the red today after testing the October high USD recovery across the board drives today’s move Mixed Momentum indicators complicate the short-term outlook NZDUSD is edging lower, reacting to Tuesday’s very strong green candle that pushed the pair towards the October 11 high of 0.6054. NZDUSD bulls took advantage of the widespread USD weakness but failed to overcome the 0.6060 level and are now testing the support set by the 100-day simple moving average (SMA). In the meantime, a double [..]

Market Comment – Dollar tumbles on cooler-than-expected US inflation

Posted on November 15, 2023 at 9:36 am GMT

Slowing US inflation confirms view that Fed is done with hikes Aussie and kiwi gain the most on bolstering risk sentiment Pound pulls slightly back on lower-than-expected UK inflation Wall Street rallies as investors cheer US inflation data US CPI numbers support ‘Fed is done’ narrative The dollar tumbled across the board yesterday after cooler than expected US inflation data added more credence to investors’ belief that the Fed’s tightening crusade is over, despite Chair Powell and his colleagues pushing [..]

Technical Analysis – NZDUSD pulls back from November peak

Posted on November 8, 2023 at 8:56 am GMT

NZDUSD attempts to rebound from its 2023 lows Gets rejected at 0.6000 but 50-day SMA provides support Momentum indicators remain cautiously tilted to the upside NZDUSD has been in a steady downtrend throughout 2023, posting a fresh one-year low of 0.5772 on October 26. Although the pair showed some signs of life lately, its rebound fell short around the 0.6000 handle, with the 50-day simple moving average (SMA) pausing the setback for now. Should the price bounce off its 50-day SMA and [..]

Technical Analysis – NZDUSD hovers near its 2023 lows

Posted on November 1, 2023 at 9:26 am GMT

NZDUSD halts latest decline at a fresh 1-year bottom of 0.5772 Trades without a clear direction in the past week Momentum indicators remain tilted to the bearish side NZDUSD has begun another round of weakness following the steep retreat from its October highs just a tad above the 50.0% Fibonacci retracement of the 0.5510-0.6535 upleg. Although the pair managed to find its feet at a fresh one-year low of 0.5772, the short-term oscillators are reflecting persistent downside risks. Should the selling [..]

Week Ahead – Will BoJ steal the limelight from Fed and BoE?

Posted on October 27, 2023 at 10:41 am GMT

Central bank meetings continue in earnest with BoJ, Fed and BoE Fed and BoE to likely stand pat, but BoJ might tweak policy again NFP report and Eurozone flash GDP and CPI data also in focus Fed pause likely to be of little relief for yields Just a few weeks ago the November FOMC meeting was seen as a live one, but expectations of a rate hike have evaporated in the run up to Wednesday’s decision. The latest commentary from [..]

Technical Analysis – NZDUSD rallies but all eyes on momentum indicators

Posted on October 25, 2023 at 6:46 am GMT

NZDUSD is in the green again today, a tad above a key level Bearish pressure lingers as NZDUSD traded at a 1-year low Momentum indicators could soon turn bullish NZDUSD is edging higher today, recording its third consecutive green candle but trading only a tad above the key 0.5813 level. The bears remain in control of the market as the latest downleg, from the October 11 local peak, pushed NZDUSD to the lowest level since November 4, 2022. Understandably, the [..]

Market Comment – Investors add to Fed hike bets after solid US retail sales

Posted on October 18, 2023 at 8:34 am GMT

US retail sales rise more than expected, bolster Fed hike case Pound slides on slowing wages, rebounds on sticky inflation Aussie and kiwi aided by China’s GDP beat; loonie supported by higher oil prices Wall Street ends mixed; gold extends gains on safe-haven flows Dollar receives support, yields surge on US retail sales beat The US dollar traded mixed against the other major currencies on Tuesday, gaining against the pound, the yen, and the kiwi, but losing ground versus the [..]

Market Comment – Equities gain, gold slips amid diplomatic push to contain Mideast crisis

Posted on October 17, 2023 at 9:07 am GMT

Risk aversion eases as diplomatic efforts to end Israel-Gaza war ramped up Gold off highs, while earnings optimism additionally boosts Wall Street Dollar steady as yields resume climb ahead of US retail sales, Fed speakers Mood improves on diplomacy hopes Risk sentiment was notably more buoyant on Tuesday as fears about the unfolding situation in Israel and Gaza developing into a wider conflict ebbed somewhat. A rush of diplomacy by global leaders to defuse the crisis appears to have soothed [..]

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