All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD continues the fall from 0.6570

Posted on June 9, 2022 at 12:58 pm GMT

NZDUSD has declined considerably after touching the 0.6570 resistance. The price is testing the 20-day simple moving average (SMA) and more declines could find a support at the 0.6410 level. Underneath this obstacle, could take the market until the two-year low of 0.6214. The technical indicators are mirroring this bearish tendency with the RSI dropping below the neutral threshold of 50 and the stochastic oscillator approaching the oversold zone with strong momentum. On the flip side, a move to the upside may [..]

Daily Market Comment – Euro steady ahead of ECB decision, stocks drift lower

Posted on June 9, 2022 at 9:28 am GMT

Euro holds around $1.07 ahead of expected ECB stimulus pullout Elevated yields and oil prices weigh on equities, some relief from China trade jump Yen snaps losing streak, dollar gets caught in sideways range in CPI wait Cautious calm before ECB amid hawkish risks The European Central Bank meeting is undoubtedly the focal point for investors on Thursday in what could turn out to be the most important policy shift since Draghi’s ‘whatever it takes’ moment. After years of quantitative [..]

Technical Analysis – NZDUSD exposed to more selling

Posted on June 8, 2022 at 7:35 am GMT

NZDUSD entered a new bearish phase last Friday after failing to chart a new higher high above May’s peak of 0.6567, with the price falling as low as 0.6421 on Tuesday. The 20-day simple moving average (SMA) managed to add some footing under the price yesterday, though buyers did not have enough fuel to successfully drive above the red Tenkan-sen line and the 0.6500 level, keeping negative risks intact in the market. In momentum indicators, the RSI has already entered the [..]

US Open Note – Dollar continues the sell-off after ADP and ahead of NFP; oil erases losses

Posted on June 2, 2022 at 12:43 pm GMT

ADP dissapoints; NFP comes out tomorrow After the disappointing release of the ADP report which announced 128K workers versus 300K that was expected, the dollar is still trading lower. After two days in a row of gains, the dollar index retraced to a low of 102.12. As dollar/yen traded over 130 for the first time since the middle of May, the trend of the yen weakening has re-established itself. Sterling is holding above $1.25, within the short-term moving averages. Yesterday, Bullard stated that the path that the Fed [..]

Technical Analysis – NZDUSD gains subside below MAs and 0.66 mark

Posted on June 1, 2022 at 8:49 am GMT

NZDUSD is fading from the vicinity of the upper Bollinger band that is just shy of the 0.6600 handle, both being upside deterrents, which are encapsulated in a resistance boundary established by the May 5 high of 0.6568 and the February 24 inside swing low of 0.6629. The gliding longer-term 100- and 200-day simple moving averages (SMAs), and the diving 50-day SMA, are still promoting the negative trend despite the bounce in the pair from the near two-year low of [..]

Daily Market Comment – Dollar slips further ahead of PCE inflation as equity rebound gathers steam

Posted on May 27, 2022 at 9:21 am GMT

Wall Street poised to snap losing streak as Fed bets ease, China tech earnings help Dollar drops to fresh one-month low; can PCE inflation revive it? Sunak’s support package shores up pound, euro heads for strong weekly gains Stock markets end week on stronger footing Despite a few wobbles, the recovery that got underway on Wall Street at the start of the week has gone from strength to strength and the major US indices are on track to break their [..]

Daily Market Comment – Dollar bounces off 1-month low, stocks recover too as Fed minutes eyed

Posted on May 25, 2022 at 8:55 am GMT

Soft US data drags yields and dollar lower as Fed’s Bostic calls for rate hike pause Nasdaq edges up after slump in tech stocks; Fed minutes awaited for more direction Kiwi jumps after RBNZ’s surprise hawkish tilt, euro dips on mixed ECB messages Fed rate hike path trimmed back after weak US data Signs that consumer demand in the United States is being pressured from the increase in the cost of living and that supply shortages are getting worse were [..]

Technical Analysis – NZDUSD increases above 0.6500 in short-term bounce

Posted on May 25, 2022 at 7:18 am GMT

NZDUSD is ticking higher above 0.6500 again after the bounce off the two-year low of 0.6214. The technical indicators are showing more positive signs, as the MACD is advancing above its trigger line in the negative region, while the RSI is pointing upwards after the jump above the neutral threshold of 50. Also, the pair advanced above its 20-day simple moving average (SMA), confirming the recent positive bias in the short-term. A move to the upside may meet resistance around 0.6570, [..]

US Open Note – Market sentiment dulls with growth worries

Posted on May 24, 2022 at 2:02 pm GMT

US yields ebb and heavy dollar follows A risk-off tone has gripped markets as rekindled growth concerns are being highlighted due to China supply constraints from lockdowns, the domino effects from the Russian invasion on Ukraine and pressures on central banks who are expected to do more to bring inflation lower without pushing their economies into recession. The already aggressive Federal Reserve is finding its job to curb inflation more challenging as the degree or constant pace of tightening is [..]

Technical Analysis – NZDUSD pauses advance as bullish bias wanes

Posted on May 24, 2022 at 1:31 pm GMT

NZDUSD has been marching higher in the short term after managing to find its feet at the two-year low of 0.6214. However, in the last couple of sessions its rebound has been on hold, with the bulls appearing to have lifted the foot off the gas. The momentum indicators further endorse the pair’s loss of steam. The stochastic oscillator is ready to post a bearish cross in the overbought area, while the RSI’s ascent got rejected from the 50-neutral threshold. Moreover, [..]

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