All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD bulls take charge; 0.71 level under fire

Posted on June 25, 2021 at 1:34 pm GMT

NZDUSD is extending its minor uptrend, which began from the near 7-month low of 0.6922, climbing to challenge the 0.7100 handle. While the bearish simple moving averages (SMAs) continue to sponsor a negative picture, the rising Ichimoku lines are signalling bullish impetus, suggesting strength in the ascent. The short-term oscillators are also reflecting growing positive momentum. The MACD is powering above its red trigger line in the bullish region, while the rising RSI is approaching the 70 overbought level. The [..]

US Open Note – Dollar tumbles after PCE data

Posted on June 25, 2021 at 1:07 pm GMT

Dollar moves south as US futures hold steady Markets drove the dollar even lower after the release of the PCE price index on Friday. During the last couple of days, the dollar index has remained steady just below 92.00. The greenback is falling after the jump above the 111.00 psychological level versus the Japanese yen. US futures are currently trading in green on Friday. The core PCE, the Fed’s preferred inflation indicator rose by 3.4% y/y, up from 3.1% in the previous month and was in line with expectations. It is the highest reading [..]

US Open Note – Dollar unlocks new yearly high versus yen; oil posts new high

Posted on June 23, 2021 at 12:53 pm GMT

Dollar/yen flies above 111.00; US futures in red As markets wait for US Markit preliminary readings at 13:45 GMT, the dollar is edging higher. After two red days, the dollar index is practically unchanged below 92.00. The US dollar continues to rise versus the Japanese yen, creating new highs for the year, jumping above 111.00. Following Powell’s remarks, stocks rallied; however, US futures are currently trading flat on Wednesday. The single currency is heading above $1.19 but is still stuck [..]

Technical Analysis – NZDUSD pivots up trying to recoup lost ground

Posted on June 23, 2021 at 9:27 am GMT

NZDUSD is looking set to return above the 200-day simple moving average (SMA) after buyers managed to successfully log two consecutive days in the green, beginning from 0.6922. Although the intertwined 50- and 100-day SMAs are suggesting a largely neutral tone, and the break beneath the 200-day SMA is a bearish signal, negative impetus seems to have become feeble. The Ichimoku lines are also indicating that negative pressures are subsiding, while the short-term oscillators are confirming that positive momentum is [..]

Daily Market Comment – Fed aftershock deepens in equities but dollar pauses for breath

Posted on June 21, 2021 at 9:09 am GMT

Fed’s normally dovish Bullard sees 2022 rate hike, Wall Street crumbles Rout stretches on but dollar rally eases, gold catches a bid Markets dreading key Fed speakers this week including Powell US yield curve flattens, roils markets The US yield curve flattened further on Monday as investors continued to adjust their rate hike bets, steepening the short end of the curve while pushing long-term borrowing costs sharply lower. Markets are still coming to terms with last week’s FOMC bombshell when [..]

Technical Analysis – NZDUSD reverses up after steep slide

Posted on June 18, 2021 at 10:27 am GMT

NZDUSD is reversing quickly to the upside after the sharp plummet towards a fresh two-and-a-half-month low of 0.6960 earlier today. The RSI is flattening in the oversold territory; however, the stochastic is ticking higher after the drop into the negative zone. The Ichimoku indicator is signaling more losses in the market, so are the 20- and 40-period simple moving averages (SMAs). In case of more bullish actions, immediate resistance could come from the 0.7015 barrier before moving towards the red Tenkan-sen line and the blue Kijun-sen [..]

Kiwi wavers near 2-month lows ahead of New Zealand GDP data – Forex News Preview

Posted on June 16, 2021 at 1:32 pm GMT

GDP numbers for New Zealand will be watched at 22:45 GMT on Wednesday as the Pacific nation’s economy is expected to have returned to growth in the first quarter. The recent hawkish shift by the Reserve Bank of New Zealand does not appear to have done too many favours for the local dollar, which is currently wallowing near two-month lows against its US counterpart. However, a solid expansion in Q1 could remind investors that the recovery is back on track, [..]

Technical Analysis – NZDUSD remains neutral above 0.71

Posted on June 16, 2021 at 7:17 am GMT

NZDUSD has been in a sideways move over the last two months with upper boundary the 0.7313 resistance and lower boundary the 0.7100 handle. The price is trading near the aforementioned level, falling beneath the bearish cross within the 20- and 40-day simple moving averages (SMAs). The RSI indicator is diving in the negative territory as well as the MACD oscillator, while the stochastic dropped in the oversold zone. If the price falls below 0.7100, the 200-day SMA will be [..]

US Open Note – Stocks, oil on the rise; FX markets on the sidelines

Posted on June 14, 2021 at 1:38 pm GMT

Stock indices hit fresh record highs There was no clear winner in the FX space during the European session on Monday as the calendar was empty of market moving events, but the surge in oil and other commodity prices provided a small advantage to risk-sensitive currencies such as the New Zealand and Australian dollars. Rising energy and utility prices underpinned global stocks as well, with the pan-European STOXX 600 and the US S&P 500 futures inching to fresh record highs [..]

Technical Analysis – NZDUSD touches SMAs in a declining tendency

Posted on June 11, 2021 at 9:42 am GMT

NZDUSD has been in a slightly upside movement over the last 4-hour sessions, flirting with the downward sloping 20- and 40-period simple moving averages (SMAs). Broadly, the pair is trading within a descending formation, while a break above the 200-period SMA may determine the next trend direction. Looking at momentum oscillators, they suggest further neutral-to bearish movements may be on the cards in the short-term. The RSI is near its neutral 50 line, detecting flat momentum; however, the stochastic oscillator [..]

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