All Articles Tagged - NZDUSD

Technical Analysis – Bearish breakout in NZDUSD; will it last?

Posted on June 1, 2023 at 7:29 am GMT

NZDUSD has finally managed to break below the rectangle that has been dictating the price action since February 2023, as NZD bears continue to recover part of the losses they have been suffering by the rally that commenced on October 13, 2022. However, the downside breakout has not been impressive as NZD bulls appear determined to halt this correction. Having said that NZD bears probably feel in control of the market. The Average Directional Movement Index (ADX) is edging higher, signaling [..]

Daily Market Comment – Dollar pauses for breath ahead of inflation data, tech rally eases

Posted on May 26, 2023 at 9:20 am GMT

Fed rate cut bets continue to be priced out, all eyes on core PCE inflation US dollar softer today but still headed for third weekly gain Debt deal progress and AI buzz lift Wall Street, global equities Fed rate cut bets pushed back as summer hike seen certain The US dollar eased off two-month highs on Friday as the three-week rally paused for breath amid the sharp repricing of the Fed’s rate path. Treasury yields also cooled off as investors [..]

Technical Analysis – NZDUSD plummets after RBNZ rate decision

Posted on May 24, 2023 at 7:41 am GMT

NZDUSD was steadily regaining ground after experiencing a pullback from its three-month peak of 0.6383. However, the pair retraced lower on the back of the RBNZ’s signal of a potential end to its monetary tightening cycle, with the price temporarily pausing its drop around the 200-day simple moving average (SMA). The momentum indicators currently suggest that bearish forces are intensifying. Specifically, the MACD dropped beneath its red signal line but remains above zero, while the RSI is ticking downwards after crossing below its 50-neutral [..]

Technical Analysis – NZDUSD ticks down after rebound off 0.6175

Posted on May 23, 2023 at 12:32 pm GMT

NZDUSD is failing to extend its upside movement that started after the rebound off the 0.6175 support level. However, the price is currently standing above the short-term simple moving averages (SMAs) that had a bullish crossover as well. The RSI is slightly pointing down near the neutral threshold of 50, while the MACD is weakening beneath its trigger line. If the market corrects higher, the bullish action may pause initially near 0.6390 that has been an unbroken level since February. [..]

Weekly Technical Analysis – NZDUSD, EURUSD, GBPUSD

Posted on May 23, 2023 at 9:37 am GMT

This week the focus of attention will be on the Reserve Bank of New Zealand policy meeting, the UK CPI data and the US Core PCE figures and the highlight would be to how NZDUSD, EURUSD and GBPUSD may react. RBNZ decision → NZDUSD This week, only the Reserve Bank of New Zealand will be having a policy meeting among the world’s major central banks. On Wednesday, most investors expect it to decide to increase interest rates by 25 basis [..]

RBNZ likes surprises, but does it want to deliver another one? – Forex News Preview

Posted on May 23, 2023 at 9:15 am GMT

Following the early April surprise, the market appears to pay more attention to Wednesday’s RBNZ meeting. However, market participants seem to be confused as the probabilities for this gathering are almost evenly split between a simple 25 bps hike and another 50bps move. The kiwi would clearly like another boost against both the aussie and US dollar, but the bar is probably set too high this time around. RBNZ in the spotlight At the April 4 meeting the RBNZ decided [..]

Daily Market Comment – Powell talks pause but debt ceiling uncertainty weighs on sentiment

Posted on May 22, 2023 at 9:46 am GMT

Powell signals Fed may be done raising rates, pushing June hike odds into reverse Dollar takes a tumble but quickly finds its footing Stocks also struggle amid ongoing debt ceiling drama as clock keeps ticking Powell takes over pause debate, sides with the doves Fed Chair Jerome Powell waded into the policy debate on Friday, adding his much-anticipated view on whether or not the time has come to press the pause button on rate increases. It comes after a week-long [..]

Week Ahead – RBNZ, Fed minutes, UK & US inflation, flash PMIs to headline packed week

Posted on May 19, 2023 at 11:40 am GMT

The RBNZ looks set to raise rates for a 12th time in the coming week, while inflation figures out of the United Kingdom and United States will be crucial in shaping rate hike expectations. After some shockingly bad data recently, Germany’s PMI readings will likely capture the most attention from S&P Global’s flash surveys for May. With sentiment still fragile, the PMIs could set the tone for equity markets, but will they aid the US dollar’s advance or will the [..]

Technical analysis – NZDUSD battles with 50-day SMA after decline pauses

Posted on May 17, 2023 at 7:31 am GMT

NZDUSD was in a steady short-term uptrend, posting a fresh three-month high of 0.6383 before experiencing a significant pullback. Although the pair managed to halt its retreat and recoup some losses, its attempt for a recovery stalled at the congested region that includes the 50-day simple moving average (SMA) and the lower end of the Ichimoku cloud. The momentum indicators are reflecting a loss of positive momentum. Specifically, the MACD dropped beneath its red signal line but remains above zero, while [..]

Technical Analysis – NZDUSD in crucial battle area ahead of US CPI

Posted on May 10, 2023 at 7:59 am GMT

NZDUSD is trading at a critical area ahead of the US CPI inflation data, challenging the resistance trendline, which connects all the highs from April’s peak at 0.6343, for the third consecutive day. May’s upturn raised optimism for a bullish trend reversal as a double bottom pattern became more visible. Adding to the bright outlook is the clear positive trajectory in the RSI and the MACD, which point to constructive sessions ahead. Nevertheless, only a clear extension above 0.6345-0.6375 would [..]

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