All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD overcomes SMAs but finds wall at 0.6300

Posted on April 4, 2023 at 1:16 pm GMT

NZDUSD is testing the 0.6285 resistance level again after the successful attempt to jump above the short-term simple moving averages (SMAs), which are turning higher. The RSI is pointing slightly down in the positive region, while the MACD is pointing to very weak positive momentum, as it remains fractionally above its trigger line. If the market strengthens its bullish structure, then it may then find resistance from the 0.6390 barrier ahead of the eight-month high of 0.6530. Any climbs above this region could endorse the long-term positive [..]

Decision time for RBNZ; potentially the last rate hike? – Forex News Preview

Posted on April 3, 2023 at 9:50 am GMT

With the market gradually preparing for a much-needed break due to the Easter festivities, the RBNZ will meet this week. The market is looking for another rate increase, but there is a widespread feeling that we are close to the peak of this hiking cycle. Inflation is still elevated, but the aftermath of Cyclone Gabrielle might have affected the RBNZ’s hawkish appetite. Could the kiwi be assisted by the RBNZ and continue its recovery against the US dollar? RBNZ in [..]

Weekly Technical Analysis – EURUSD, AUDUSD, NZDUSD

Posted on April 3, 2023 at 9:42 am GMT

The focus this week will be on the US nonfarm payrolls report, where further improvement could dampen expectations that the Fed would soon begin cutting interest rates, thereby aiding the dollar’s recovery. The central banks of Australia and New Zealand are expected to take different approaches. US Non-farm payrolls → EURUSD In March, nonfarm payrolls are anticipated to increase 238k from 311k before, while the unemployment rate is anticipated to remain stable at 3.6%, near multi-decade lows. EURUSD is turning slightly higher after a negative open today, holding above 1.0800. RBA decision → AUDUSD [..]

Week Ahead – Nonfarm payrolls to set the tone for US dollar

Posted on March 31, 2023 at 11:02 am GMT

With the banking turmoil receding, market participants will turn their attention back to economic releases. The spotlight will fall on the US employment report, where another strong reading could temper speculation that the Fed will start cutting rates soon, helping the wounded dollar to recover. Meanwhile in Australia and New Zealand, central banks are expected to take different paths. Fed on collision course It’s been a wild month for global markets, marked by bank failures and financial instability. The main [..]

Technical Analysis – NZDUSD hovers within a tight range of SMAs

Posted on March 29, 2023 at 7:24 am GMT

NZDUSD is hovering within a tight range with boundaries of the 20- and the 50-day simple moving averages (SMAs) at 0.6190 and 0.6280 respectively. From the technical perspective, the RSI is standing near the neutral threshold of 50 and is pointing south, while the MACD is moving sideways below the zero level and near its trigger line. In the event of an upside reversal, the immediate 0.6285 resistance could act as a significant barrier before being able to re-challenge the [..]

Technical analysis – NZDUSD stuck in range ahead of Fed meeting

Posted on March 22, 2023 at 8:34 am GMT

NZDUSD lost ground after peaking at the 2023 high of 0.6536 in early February. Nevertheless, the pair managed to halt its retreat and has been moving sideways within a rectangle pattern for more than a month now. The momentum indicators currently suggest that near-term risks are tilted to the downside. Specifically, the stochastic oscillator has posted a bearish cross, while the RSI failed to reclaim its 50-neutral mark after breaking below it for the first time in the past seven [..]

Technical Analysis – NZDUSD bounces off 200-day SMA; neutral bias

Posted on March 17, 2023 at 12:19 pm GMT

NZDUSD has been on the sidelines for most of the week as the 0.6270 level seems to be a real struggle for the bulls and the 200-day simple moving average (SMA) at 0.6155 for the bears. Technically, the price could gain some ground in the short-term as the RSI is changing direction to the upside and towards its 50 neutral mark, while the MACD is holding above its trigger line in the bearish region. A move above the 0.6270 resistance could take the pair higher towards the 0.6390 [..]

Technical Analysis – NZDUSD exercises caution despite bullish breakout

Posted on March 15, 2023 at 8:42 am GMT

NZDUSD stalled immediately around 0.6230 following the clear break above the descending trendline that kept the bulls in control over the past month. The pair has crawled above its 20- and 200-day simple moving averages (SMAs) too, raising optimism for a bullish trend reversal. That said, the negative trajectory from February’s eight-month high of 0.6536 is still in place as the price has yet to print a new higher high above the 0.6300 barrier. The 50-day SMA and the falling [..]

Daily Market Comment – Bank stocks pummelled but some calm restored ahead of US CPI

Posted on March 14, 2023 at 10:08 am GMT

Financial stocks remain pressured but broader selloff eases as panic subsides US inflation in the spotlight after sharp repricing of Fed rate hikes Gold and cryptos softer after surge, yields steadier, dollar edges up Bank rout turns global but wider equities rebound Equity markets were showing some signs of life on Tuesday following a brutal selloff in the preceding days that was led by a plunge in banking stocks triggered by the collapse of SVB and Signature Bank. Emergency measures [..]

Week Ahead – US inflation, ECB decision to test markets’ nerve

Posted on March 10, 2023 at 12:16 pm GMT

The US inflation report and the European Central Bank’s policy meeting will share the limelight next week amid another round of ratcheting up of rate hike expectations by investors. Other critical data such as Chinese industrial output, Australian employment and New Zealand GDP estimates might thus get overshadowed. Meanwhile in the UK, it’s budget time again, although the event is not expected to generate as much volatility as last time. CPI report could make the case for 50-bps hike There’s [..]

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