All Articles Tagged - NZDUSD

RBNZ might need to slam the brakes in November as economy heats up – Forex News Preview

Posted on November 21, 2022 at 8:09 am GMT

The Reserve Bank of New Zealand will hold its last policy meeting of the year on Wednesday (01:00 GMT) and another rate hike is on the cards. After five consecutive 50-basis-point rate increases, policymakers will be pondering an even larger move in December, as, far from the economy cooling, inflationary pressures are at risk of boiling over. With the US dollar under strain from speculation about the Federal Reserve pivoting in the opposite direction, the New Zealand dollar could enjoy [..]

Technical Analysis – NZDUSD consolidates gains near September’s high

Posted on November 16, 2022 at 8:18 am GMT

NZDUSD finished Tuesday’s session below September’s high of 0.6160 despite touching the 0.6200 level. Previously, the pair set a nice foothold around the broken bullish channel at 0.6093, defending its short-term uptrend off 31-month lows. The 38.2% Fibonacci retracement of the 0.7032-0.5510 downleg cemented that floor as well. But the bears could be just around the corner as the price is struggling to gain fresh positive momentum and the RSI and the stochastics are flagging overbought conditions. Selling interest, however, may remain muted [..]

Technical Analysis – NZDUSD extends recovery after bouncing off 30-month lows

Posted on November 9, 2022 at 8:55 am GMT

NZDUSD has been trending lower since March, generating a profound structure of lower highs and lower lows. Nevertheless, the pair has posted a moderate recovery and has jumped above its 50-day simple moving average (SMA) after finding its feet at the 30-month low of 0.5510. The momentum indicators are endorsing a positive near-term tone. Specifically, the MACD histogram is strengthening above both zero and its red signal line, while the RSI has crossed above its 50-neutral mark. To the upside, bullish actions could [..]

Daily Market Comment – Stocks pare post-Fed losses ahead of NFP on China hopes; BoE sinks pound

Posted on November 4, 2022 at 10:22 am GMT

Dollar off highs, stocks turn positive as China reopening chatter lifts mood But NFP report could bring Fed tightening fears back into the fore Pound left reeling after BoE hikes big, warns of long recession Hopes of China reopening ease Fed gloom The run-up to the Fed meeting and its aftermath was a rollercoaster ride that didn’t end well for stocks. Investors hoping for a dovish pivot instead got a Fed chief leaning further towards the hawkish end of the [..]

Technical Analysis – NZDUSD shows positive signs above 50-day SMA in short-term

Posted on November 2, 2022 at 7:52 am GMT

NZDUSD rebounded off the 31-month low of 0.5510 in the mid-October. Currently, the market is advancing above the 50-day simple moving average (SMA) with the technical oscillators showing positive signs as well. The MACD is extending the bullish momentum above its trigger and zero lines, while the RSI is standing above the neutral threshold of 50. More upside pressures could lead the price towards the 0.6000 psychological mark before meeting the long-term downtrend line around 0.6070. If traders continue to [..]

Technical Analysis – NZDUSD eyes a bullish break; caution required

Posted on October 26, 2022 at 7:24 am GMT

NZDUSD is testing the 200-period simple moving average (SMA) in the four-hour chart for the first time since August at 0.5764. The pair has been gently trending up following the drop to 0.5510, the lowest since March 2020. From a technical perspective, the positive trajectory in the RSI and the MACD is signaling additional gains ahead, though any advances could prove limited if the channel’s upper boundary halts the recovery within the 0.5830-0.5860 region. The 0.5900 psychological mark might be another hurdle, preventing a sharp [..]

Technical Analysis – NZDUSD edges higher after hitting a 30-month low

Posted on October 25, 2022 at 2:54 pm GMT

NZDUSD has been trending lower since March, generating a profound structure of lower highs and lower lows. In the short-term picture, the pair managed to recoup some losses after bouncing off a 30-month low of 0.5510 before the rebound came to a halt at the upper-Bollinger band. The momentum indicators are endorsing a cautiously positive near-term tone. Specifically, the MACD histogram is strengthening above its red signal line in the negative territory, while the RSI has barely increased above its 50-neutral mark. To the upside, bullish actions could [..]

Technical Analysis – NZDUSD rangebound after bouncing off 30-month low

Posted on October 19, 2022 at 7:37 am GMT

NZDUSD has been trending lower since March, generating a profound structure of lower highs and lower lows. Nevertheless, the pair has been trading sideways in the last few daily sessions, attempting a minor recovery after hitting a 30-month low of 0.5510. The momentum indicators are endorsing a cautiously positive near-term tone. Specifically, the MACD histogram has jumped above its red signal line but remains in the negative territory, while the stochastic oscillator is ascending sharply towards its 80-overbought region. To [..]

Week Ahead – Inflation data may keep pound in the firing line, China GDP on tap

Posted on October 14, 2022 at 11:22 am GMT

Inflation will dominate the market theme again in the coming week as, after the United States, it will be the turn of others to face their inflation demons. With the risk of recession growing by the day but not a lot changing with the inflation dynamics, UK CPI figures will attract the most attention, while a modest pickup in Japan is unlikely to spur any policy shifts at the Bank of Japan. China will also come under the spotlight as [..]

Technical Analysis – NZDUSD rises after hitting new 31-month low

Posted on October 12, 2022 at 7:31 am GMT

NZDUSD is posting some gains after the selling interest towards the 31-month trough of 0.5530. The technical oscillators are suggesting positive movements in the short-term, as the MACD moved above its trigger line, while the stochastic posted a bullish crossover within the %K and %D lines in the oversold zone. The short-term simple moving averages are heading south following the downside movement. More upside pressures could drive the market until the immediate resistance of the 20-day SMA at 0.5740 before [..]

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