All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD plummets to fresh 28-month low below 0.6000

Posted on September 14, 2022 at 7:05 am GMT

NZDUSD plunged to a new 28-month low of 0.5985 during yesterday’s session after it found strong resistance near the 20-day simple moving average (SMA). The price is holding well below the Ichimoku cloud as well as the short- and long-term descending trend lines. Technically, the MACD oscillator has dived beneath its trigger line in the negative region, while the stochastic is approaching the 20 level following the bearish crossover within its %K and %D lines. As the price falls beneath the 0.6000 psychological [..]

Daily Market Comment – Hopes of softer inflation report lift Wall Street, hurt dollar

Posted on September 13, 2022 at 9:14 am GMT

Investors bet that August CPI data will confirm inflation has peaked in the US Wall Street rallies for a fourth day, dollar selloff accelerates Euro and pound maintain positive momentum despite doubts over energy plans Market optimism ahead of US CPI Risky assets were either extending or holding onto their gains on Tuesday as investors awaited the latest inflation report out of the United States due at 12:30 GMT. After last month’s bigger-than-expected drop in the annual CPI rate to [..]

Technical Analysis – NZDUSD plummets to fresh 27-month low

Posted on September 7, 2022 at 9:36 am GMT

NZDUSD has been trending lower since March, generating a profound structure of lower highs and lower lows. Moreover, in the past few sessions, the technical picture has deteriorated even further, with the price recording a fresh 27-month low of 0.5995. This negative near-term bias is also reflected by the short-term oscillators. The RSI is descending near the 30-oversold zone, while the MACD histogram is extending its retreat below both zero and its red signal line. Should selling pressures intensify, the [..]

Technical Analysis – NZDUSD gets closer to the 0.6060 support zone

Posted on August 31, 2022 at 2:03 pm GMT

NZDUSD has been sliding since August 12, when it hit resistance at 0.6470, with the price now getting closer to the 0.6060 support zone, marked by the low of July 14. In the bigger picture, the pair has been in a downtrend since February 2021, and thus, there may be decent chances for the pair to break below 0.6060 soon. The daily oscillators are also supporting the notion of further declines. The RSI lies below 50 and points down, while [..]

Week ahead – NFP report, Eurozone inflation under the microscope as markets wobble

Posted on August 26, 2022 at 9:43 am GMT

The US nonfarm payrolls report will take centre stage next week as speculation about the size of the Fed’s next rate hike goes into overdrive. Investors will also be keeping a close eye on the latest inflation readings in the euro area ahead of the September rate decision amid growing gloom about the bloc’s economic outlook. PMI indicators out of China and as well as quarterly data from Australia and Canada will be important too in helping to gauge the [..]

Technical Analysis – NZDUSD erases some losses and shows some improvement

Posted on August 25, 2022 at 1:23 pm GMT

NZDUSD is continuing the rebound off the 0.6156 support level and is finding resistance near the 40-day simple moving average (SMA) at 0.6240. The MACD oscillator is also pointing south and is currently in the negative range. However, the stochastic oscillator produced a bullish crossover in the oversold region, indicating that the bearish trend has ended. To the upside, the 20- and 40-day SMAs, which are currently around 0.6240 and 0.6283, respectively, may limit the upward momentum. If traders continue to buy the pair, [..]

Technical Analysis – NZDUSD erases yesterday’s rally; could weaken further

Posted on August 24, 2022 at 6:40 am GMT

NZDUSD is continuing the selling interest despite the bounce off the 0.6156 support level in the preceding session. The price holds near the lower boundary of the Ichimoku cloud, while the 20- and 40-day simple moving averages (SMAs) are pointing downwards. The MACD oscillator is heading south as well, holding in the negative region. However, the stochastic oscillator posted a bullish crossover in the oversold area, suggesting the end of the bearish move. Should the pair stretch south, Tuesday’s low [..]

Daily Market Comment – Dollar roars higher, stocks muted amid Fed uncertainty, recession risks

Posted on August 19, 2022 at 9:27 am GMT

Dollar stretches weekly gains, hits 1-month high, on Fed talk, dimming outlook Wall Street headed for flat week as growth worries keep optimism in check Gold and oil set to end week on the backfoot, but gas prices hold near highs Markets look to Jackson Hole as Fed rate path gets blurred Sentiment was subdued on Friday as investors struggled to get an accurate reading on the US economy as well as on the Fed’s intentions about the pace of [..]

Daily Market Comment – Markets struggle for direction as Fed keeps its options open

Posted on August 18, 2022 at 8:59 am GMT

Fed minutes lean hawkish, signal ‘restrictive’ policy, but open door to slower pace Dollar stays on the front foot, Wall Street bounces off lows but then starts drifting Euro holds within range as European gas prices surge to record highs Fed pushes back on rate cut bets, markets don’t listen The Federal Reserve warned that moving to a “restrictive stance of policy” was essential in the minutes of the July meeting, as it fights to get inflation down to its [..]

Technical Analysis – NZDUSD slides below bullish channel but remains supported

Posted on August 18, 2022 at 7:15 am GMT

NZDUSD is in the fourth consecutive day of declines, set to confirm its exit from a short-term bullish channel at 0.6267. While the momentum indicators suggest that the negative correction has just started, some confirmation is required since the RSI and the MACD have not significantly deviated below their neutral levels; the RSI is still close to its 50 neutral mark and the MACD marginally below its red signal line, reflecting a neutral-to-bearish short-term bias overall. Moreover, the price itself is currently facing support around [..]

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