All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD loses ground as positive momentum fades

Posted on December 16, 2022 at 12:53 pm GMT

NZDUSD had experienced a significant downtrend since March, hitting a 31-month low of 0.5510 in early October. Nevertheless, the pair has staged an impressive rebound since then, which appears to be running out of juice after posting a fresh six-month high in the beginning of this week. The momentum indicators suggest that bullish forces are subsiding. Specifically, the stochastic oscillator is descending after posting a bearish cross, while the MACD histogram has fallen below its red signal line but remains in [..]

Technical Analysis – NZDUSD eases after the rally to 6-month high

Posted on December 14, 2022 at 9:32 am GMT

NZDUSD continued the impressive rally that started after the bounce off the 31-month low of 0.5510 during yesterday’s session, surging towards a new six-month peak of 0.6512. The pair penetrated the medium-term downtrend line to the upside in the preceding sessions, creating a steep short-term ascending trend line. However, the MACD oscillator is moving sideways mirroring the downside retracement from the aforementioned high and today’s negative reaction, while the RSI is pointing slightly down near the overbought region. In the event of [..]

Week Ahead – Slower rate hikes eyed as Fed, ECB, BoE and SNB clash

Posted on December 9, 2022 at 12:34 pm GMT

A turbulent year is fast drawing to a close and the most crucial week for central banks is upon us. The Federal Reserve will be headlining the last rate-setting decisions of 2022 that will also cover those of the European Central Bank, Bank of England and Swiss National Bank. But it’s not just central bank meetings cramming up the schedule. There will be a flurry of economic data too, led by the latest US CPI report and the flash PMI [..]

Technical Analysis – NZDUSD in a wait-and-see mode

Posted on December 7, 2022 at 8:55 am GMT

NZDUSD came under pressure marginally below the August high of 0.6467 at the start of the week, having gained almost 15% since the bottom at a 31-month high of 0.5510 in mid-October. Market sentiment may remain tepid, according to the momentum indicators. With the RSI losing steam near its 70 overbought mark, the stochastics struggling to post new highs above 80, and the MACD set to cross below its red signal line, a downside correction cannot be ruled out. The [..]

Technical Analysis – NZDUSD surges to 3½-month high

Posted on December 2, 2022 at 12:36 pm GMT

NZDUSD has been showing strong improvement over the last three days as it climbed above the medium-term descending trend line and the 200-day simple moving average (SMA), confirming a bullish structure. The pair posted new three-and-a-half-month high of 0.6410. The MACD oscillator is strengthening its bullish momentum above its trigger and zero lines, while the RSI is pointing higher in the overbought territory. An extension to the upside could meet the area between the 0.6470 and 0.6570 barriers. Further up, [..]

Daily Market Comment – NFP awaited as Fed rate hike bets cool, dollar plunges

Posted on December 2, 2022 at 10:19 am GMT

Dollar resumes slide as US yields tumble after soft inflation and PMI data But Wall Street rally takes a breather amid some caution ahead of NFP report Yen surges to 3½-month high, weighs on Nikkei, as BoJ speculation intensifies ISM PMI revives hopes of early Fed pivot Treasury yields slipped sharply on Thursday, hitting multi-week lows, after closely watched gauges for the United States pointed to a slowing economy. The Fed’s favourite inflation tracker – the core PCE price index [..]

Technical Analysis – NZDUSD consolidates after the 200-day SMA rejects advance

Posted on November 30, 2022 at 8:16 am GMT

NZDUSD has been trending lower since March, generating a profound structure of lower highs and lower lows. Even though the pair has posted a moderate recovery after finding its feet at the 30-month low of 0.5510, the 200-day simple moving average (SMA) has curbed further advances. The momentum indicators suggest that bullish forces are subsiding. Specifically, the stochastic oscillator is descending after posting a bearish cross, while the MACD histogram has fallen below its red signal line but remains in the [..]

Daily Market Comment – Stocks, oil bounce back on China hopes, dollar’s Fed-led rebound falters

Posted on November 29, 2022 at 10:14 am GMT

Mood improves as China takes more baby steps to shift away from zero Covid But risk assets rebound only modestly as Fed hawks keep optimism in check Dollar pulls back, oil climbs on possible OPEC+ output cut Easing protests in China calm markets The unrest in China appears to be easing amid a massive police presence on the streets of Beijing, Shanghai and other major cities. But while the clampdown may by succeeding in deterring protestors to come out [..]

Daily Market Comment – Risk-on takes a hit as China protests spark unease

Posted on November 28, 2022 at 9:54 am GMT

Yen jumps, yields slip as anti-lockdown protests in China dent sentiment Oil slumps to one-year low amid rising concerns about Chinese demand Stocks start the week in the red as NFP and other crucial data eyed Growing protests in China rattle markets Risk assets took a knock at the start of the week as worries about instability in China and how the country’s unyielding zero-Covid policy might further blight the outlook led investors to search for safety. Anti-lockdown protests started [..]

Technical Analysis – NZDUSD needs to surpass 0.6200 for more bullish actions

Posted on November 23, 2022 at 8:08 am GMT

NZDUSD is testing the 0.6200 psychological mark once again after it broke the long-term descending trend line to the upside. The bullish bias in the short-term may be endorsed if there is a climb above the medium-term downtrend line and the 200-day simple moving average (SMA) at 0.6290. The MACD oscillator is mirroring the several tests for more bullish actions as the oscillator is moving sideways near its trigger line. However, the RSI is heading north approaching the 70 level. [..]

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