All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD bounces off 76.4% Fibonacci but negative bias prevails

Posted on December 8, 2021 at 9:23 am GMT

NZDUSD buyers have emerged around the 0.6734 level, which is the 76.4% Fibonacci retracement of the up leg from 0.6510 until the 0.7464 peak. That said, it appears that they are incapable of terminating the one-month decline from the 0.7217 high. The dipping simple moving averages (SMAs) are starting to confirm a growing downward trend in the pair. The short-term oscillators are reflecting a slight increase in bullish momentum, but given the current overwhelming downward pressures, it looks unlikely that [..]

Technical Analysis – NZDUSD consolidates around the 0.6800 mark, bearish tone remains

Posted on December 2, 2021 at 2:47 pm GMT

NZDUSD is edging sideways across the 0.6800 mark as clear directional impetus has softened after the pair stretched to a near 13-month low of 0.6771. The diving 50- and 100-period simple moving averages (SMAs) are backing the bearish trajectory of the pair. The squeeze in the Bollinger bands is hinting of an upcoming surge in volatility, while the short-term oscillators are somewhat suggesting sellers may regain the upper hand. The MACD has marginally returned beneath its red trigger line in [..]

Technical Analysis – NZDUSD ripe for a bullish start to December

Posted on December 1, 2021 at 7:57 am GMT

NZDUSD is setting the table for a bullish start to December after refusing to close below its August trough on Tuesday despite its flash drop to a new yearly low of 0.6771. Oversold conditions seem to have been met as both the RSI and Stochastics have bottomed near their 30 and 20 levels respectively and are currently clearly changing course to the upside. Besides, with the price being attached to the lower Bollinger band for the past three weeks, an [..]

Technical Analysis – NZDUSD traces lower Bollinger band but negative bearing stalls around 0.68 handle

Posted on November 26, 2021 at 1:58 pm GMT

NZDUSD buyers have remained relatively absent as the price has stretched down towards a 12½-month low of 0.6803, declining from the 0.7000-0.7100 vicinity. The bearish tone of the 50- and 100-period simple moving averages (SMAs) is endorsing the descent in the pair. The short-term oscillators are reflecting a small increase in positive momentum but have yet to signal that negative forces have fully abated. The MACD, although deep below the zero mark, is marginally beneath its red trigger line, while [..]

US Open Note – Markets dive as new Covid variant identified

Posted on November 26, 2021 at 1:57 pm GMT

FX market is bleeding due to new variant; yen shines After the discovery of a new and possibly vaccine-resistant coronavirus variant in South Africa, Botswana, and Hong Kong, the FX market is posting strong losses and US stock futures are indicating a negative open. Flights from South Africa and other nearby countries have already been temporarily banned by Britain, which was followed by Israel and Singapore, and could lead to similar bans in other countries. The introduction of the new variant comes at a time when different European countries are coping [..]

Week Ahead – NFP report could keep the dollar rally going

Posted on November 26, 2021 at 11:23 am GMT

It will be hard for the US dollar to escape the spotlight in the coming week as the November jobs report will likely further fuel expectations of faster Fed tapering, extending the rally. The last month of the year is expected to get off to a busy start with a slew of data on the way. Aside from the US highlights, Canada will also be reporting jobs numbers in addition to its Q3 GDP print, Australia will publish growth figures [..]

Technical Analysis – NZDUSD touches 3-month low amid worsening negative momentum

Posted on November 26, 2021 at 9:24 am GMT

NZDUSD is continuing its descending trend reaching a 3-month low amid strengthening negative momentum. Moreover, the 50-period simple moving average (SMA) has crossed below the 200-period SMA, increasing fears of a sustained bearish outlook. Short-term momentum indicators are reflecting a negative bias, as the MACD is found below zero and its red signal line. However, the RSI is hovering below its 30 oversold region indicating that an immediate upside movement is not out of the equation. Should the bears remain [..]

Technical Analysis – NZDUSD traces lower Bollinger, but neutral stance stands

Posted on November 24, 2021 at 10:05 am GMT

NZDUSD is following the declining lower Bollinger band and is confronting the October 13 inside swing low of 0.6910, after a one-month price drop from the 0.7200 vicinity, which steered beneath the simple moving averages (SMAs). The longer-term 100- and 200-day SMAs are reflecting the absence of a trend, while the dipping 50-day SMA, is mirroring the slight lead sellers have managed to secure. Despite the commanding sideways market in the pair, the short-term oscillators are skewed to the downside. [..]

Daily Market Comment – Powell renomination turbocharges dollar, sinks gold

Posted on November 23, 2021 at 9:29 am GMT

Dollar charges higher as Fed chief Powell gets a second term Stock markets pull back from record peaks, gold cracks European PMIs pause euro’s slide, RBNZ rate decision next Powell gives dollar more fuel The White House announced yesterday that Jerome Powell will get a second term as Fed Chair, while Lael Brainard will be promoted to Vice Chair. Even though the decision was as expected, the news still caught markets by storm, propelling the dollar higher as traders doubled [..]

RBNZ meeting: Single or double rate hike? – Forex News Preview

Posted on November 22, 2021 at 3:03 pm GMT

The Reserve Bank of New Zealand (RBNZ) will wrap up its latest meeting at 01:00 GMT Wednesday. A rate increase is definitely on the menu – the real question is how much rates will be raised. There’s no real reason why the central bank should go for a ‘double’ rate hike with so many risks still on the radar, which leaves room for disappointment in the FX arena. Coming in hot New Zealand’s economy is running like a well-oiled machine. [..]

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