All Articles Tagged - NZDUSD

Week Ahead – Dollar shines ahead of nonfarm payrolls

Posted on September 29, 2023 at 10:00 am GMT

Dollar cruises higher, nonfarm payrolls on Friday will be crucial for this rally Early indicators point to another solid month for the US labor market Central bank decisions in Australia and New Zealand will also be in focus Dollar goes on a rampage The US dollar rally has gone into overdrive lately. Empowered by a stunning rise in US yields, solid economic fundamentals, and safe haven flows, the dollar has charged higher to record 11 consecutive weeks of gains against [..]

Technical Analysis – Has the recent sell-off in NZDUSD run its course?

Posted on September 27, 2023 at 7:40 am GMT

NZDUSD continues to hover around the 0.5920 level Last week’s key events did not result in a new trend in NZDUSD The momentum indicators have taken a back seat at this stage NZDUSD is trading lower, testing the support set by the May 15, 2022 low of 0.5920. The bears have managed to stop the recent series of six consecutive green candles, but they have failed, up to now, to register a significant sell-off. Similarly, the momentum indicators are trying [..]

Technical Analysis – NZDUSD attempts to break above 61.8% Fibonacci

Posted on September 20, 2023 at 6:53 am GMT

NZDUSD halts decline at a fresh 9-month low of 0.5858 Hovers around 61.8% Fibonacci retracement of the 0.5510-0.6535 upleg in the past three weeks Positive momentum is picking up, increasing odds for an upside violation of the recent range NZDUSD had been stuck in a downtrend after posting a five-month high of 0.6410 in mid-July, which resulted in a fresh nine-month low on September 5. Since then, the pair has been consolidating around the 61.8% Fibo of 0.5902, with the momentum indicators [..]

New Zealand economy to return to growth but will it end kiwi’s slide? – Preview

Posted on September 19, 2023 at 1:43 pm GMT

New Zealand GDP expected to rise in Q2 after technical recession But China woes and high interest rates to weigh on outlook still Kiwi hoping for much needed lift when data is out Wednesday, 22:45 GMT Return to growth after shallow recession As the debate rages about whether major economies such as the United States and the Eurozone are headed for a recession, New Zealand’s comparatively smaller economy is about to emerge from one. New Zealand’s GDP contracted in the [..]

Technical Analysis – NZDUSD stuck in tight range around 61.8% Fibonacci

Posted on September 18, 2023 at 3:18 pm GMT

NZDUSD halts decline at a fresh 9-month low of 0.5858 Hovers around 61.8% Fibonacci retracement of the 0.5510-0.6535 upleg in the past three weeks Momentum indicators remain tilted to the bearish side, increasing downside risks NZDUSD has been stuck in a steep downtrend since its five-month high of 0.6410 in mid-July. Even though the pair appears to have found its footing after recording a fresh nine-month low of 0.5858, it has been struggling to break above the 61.8% Fibo of 0.5902 for [..]

Technical Analysis – NZDUSD battles with 61.8% Fibonacci

Posted on September 14, 2023 at 3:30 pm GMT

NZDUSD pauses decline at a fresh 9-month low of 0.5858 Hovers around 61.8% Fibonacci retracement of the 0.5510-0.6535 upleg in the past two weeks Despite recent bounce momentum indicators remain tilted to the bearish side NZDUSD has been stuck in a steep downtrend since mid-July when it posted a fresh five-month high of 0.6410. Even though the pair appears to have found its footing after recording a fresh nine-month low of 0.5858, the price has been struggling to surpass the 61.8% [..]

Technical Analysis – NZDUSD gets rejected, but bulls might try again

Posted on September 13, 2023 at 8:24 am GMT

NZDUSD hovers near 10-month low A close above 20-day SMA needed Hopes for upside reversal remain NZDUSD is unable to go beyond its 20-day simple moving average (SMA) even after persistently attempting to rebound around the falling support line from March 2023. The pair registered a ten-month low of 0.5884 last week, but there is some growing optimism that the bulls may take the lead soon. The RSI seems to be trending against the market, creating higher lows below its [..]

Market Comment – Falling yen draws intervention warning, ISM non-mfg PMI in focus

Posted on September 6, 2023 at 8:19 am GMT

Yen hits 10-month low, triggers intervention warning Dollar traders turn attention to ISM non-mfg PMI Equities pull back, but stay in an uptrend mode BoC expected to stand pat, focus to turn on guidance Japanese official warns as dollar/yen gets closer to 148 The US dollar traded higher against all the other major currencies on Tuesday, perhaps as increasing concerns about the performance of the Chinese economy after the disappointing Caixin services PMI resulted in a flight to safety. The [..]

Technical Analysis – NZDUSD extends retreat to fresh 2023 low

Posted on September 6, 2023 at 7:25 am GMT

NZDUSD has been stuck in a steep downtrend after posting a fresh five-month high of 0.6410 in mid-July. Despite trading flat for the past two weeks, the pair dropped to a fresh nine-month bottom of 0.5858 in yesterday’s session before paring back some losses. The momentum indicators are heavily tilted to the bearish side. The RSI is hovering near its 30-oversold mark, while the stochastic oscillator is also negatively charged near its 20-oversold territory. Should the downward spike extend, the price [..]

Technical Analysis – NZDUSD plummets to fresh 2023 low

Posted on September 5, 2023 at 1:26 pm GMT

NZDUSD has been stuck in a steep downtrend after posting a fresh five-month high of 0.6410 in mid-July. Despite trading flat for the past two weeks, the pair dropped to a fresh nine-month bottom in today’s session before paring back some losses. The momentum indicators are heavily tilted to the bearish side. The RSI is declining near its 30-oversold mark, while the stochastic oscillator is also negatively charged near its 20-oversold territory. Should the downward spike extend, the price could initially [..]

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