All Articles Tagged - NZDUSD

Week Ahead – BoC may hike one final time; Will flash PMIs spread gloom or optimism?

Posted on January 20, 2023 at 10:20 am GMT

As 2023 gets underway, so do the central bank meetings and the Bank of Canada will be the next after the BoJ to announce its first policy decision of the year. Meanwhile, investors will be nervously awaiting the first PMI readings of 2023 next week as they juggle to reach a consensus about the recessionary risks. In the United States, there will additionally be the advance GDP estimates for the final quarter of 2022, as well as PCE inflation data. [..]

Technical Analysis – NZDUSD bulls face big challenge around 0.6500

Posted on January 18, 2023 at 8:44 am GMT

NZDUSD continues to rise above the Ichimoku cloud and the short-term simple moving averages (SMAs), remaining above the long-term downtrend line. According to the MACD, positive momentum could push for further gains as the indicator picks up steam above its red signal line. The RSI is also advancing, though, it is relatively close to the 70 overbought threshold. More increases could drive the market towards the six-month high of 0.6512 ahead of the 0.6570 barrier, registered on May 29. Even higher, the price [..]

Technical Analysis – NZDUSD bulls get congested; sentiment fragile

Posted on January 11, 2023 at 8:43 am GMT

NZDUSD got trapped around 0.6370 immediately after the bounce on the 50- and 200-day simple moving averages (SMAs) at 0.6200. Interestingly, the congestion is developing around the lower boundary of the broken 2021-2022 bearish channel. While the bullish SMA crosses flag a resumption of the latest upleg, the momentum indicators are still reflecting some caution. Although above its 50 neutral mark, the RSI is struggling to gain impetus, while the MACD remains capped below its red signal line. Moreover, the stochastics are already [..]

Technical analysis – NZDUSD gains ground amid impending golden cross

Posted on January 9, 2023 at 3:34 pm GMT

NZDUSD had experienced a steep downtrend, recording a 31-month low of 0.5510 in early October. However, the pair managed to bounce back and erase a significant part of its decline, with the imminent completion of a golden cross between the 50- and 200-day simple moving averages (SMA) promoting the continuation of the rebound. The momentum indicators suggest that buying interest is intensifying. Specifically, the stochastic oscillator is ascending after posting a bullish cross, while the RSI is sloping upwards above its 50-neutral [..]

Daily Market Comment – Markets rally after softer wage growth tempers Fed bets

Posted on January 9, 2023 at 10:05 am GMT

Another solid jobs report in December but easing wages raise soft landing hopes Wall Street and global equities rally as China reopening adds to optimism Commodities climb too as dollar approaches 7-month lows Markets cheer US data pointing to slowing economy Friday’s flurry of data produced a distinguishingly mixed picture on the US economy but for the markets, it was an all-round positive day as traders grew more confident that inflationary pressures are ebbing. The first piece of good news for [..]

Technical Analysis – NZDUSD ticks up from falling trend line

Posted on January 4, 2023 at 8:44 am GMT

NZDUSD is rising after bouncing off the long-term descending trend line and the 200-day simple moving average (SMA) but is still hovering beneath the 20-day SMA. The negatively aligned Tenkan-sen line serves as a testament to the negative short-term momentum. The Chikou Span, though, is signaling a potentially oversold market; a near-term reversal should thus not be ruled out. The MACD oscillator is still declining beneath its trigger line in the positive region; however, the RSI is pointing upwards above the neutral [..]

Technical Analysis – NZDUSD extends its decline after uptrend pauses

Posted on December 22, 2022 at 2:50 pm GMT

NZDUSD had been in a steep uptrend since early October, which came to a halt at the six-month high of 0.6513. However, the pair is currently experiencing a downside correction in the four-hour chart, with the price action forming a clear restrictive trendline. The momentum indicators suggest that bearish forces have gained control. Specifically, the stochastic oscillator is descending after posting a bearish cross, while the RSI is retreating further below its 50-neutral mark. Should the pair slide further, immediate [..]

Technical Analysis – NZDUSD eases near 0.6300 and short-term rising line

Posted on December 21, 2022 at 1:58 pm GMT

NZDUSD is tumbling near the short-term rising trend line and is moving towards the strong support level at the 200-day simple moving average (SMA) and the penetrated long-term downtrend line. The MACD oscillator is losing momentum beneath its trigger line in the positive area, while the RSI is ticking south marginally above the neutral threshold of 50. Should weakness extend below the 200-day SMA, support to downside movements could be initially provided by the 0.6150 barrier. Clearing that zone, the next [..]

Technical Analysis – NZDUSD extends slide near 200-day SMA

Posted on December 21, 2022 at 8:26 am GMT

NZDUSD had experienced a prolonged downtrend since March, hitting a 31-month low of 0.5510 in early October. Even though the pair has posted a strong recovery since then, it is currently experiencing a pullback after its rebound came to halt at the six-month high of 0.6512. The momentum indicators suggest that bearish forces have gained control. Specifically, the stochastic oscillator is descending after it failed to complete a bullish cross, while the MACD histogram has retreated further below its red [..]

Daily Market Comment – BoJ shocks markets with policy tweak; yen soars, stocks tumble

Posted on December 20, 2022 at 10:04 am GMT

Bank of Japan makes surprise tweak to its YCC policy, insists it’s not tightening Dollar slumps 3% against yen, Nikkei plunges as markets see move as exit from stimulus Gold supported as broader market mood remains downbeat BoJ widens yield target range The Bank of Japan ended weeks of speculation about a policy pivot and took its first step on Tuesday to move away from years of ultra-loose monetary policy. In its first adjustment to its yield curve control policy [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

NZDUSD

XM Live Chat