All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD bulls lose energy as key barriers arise

Posted on April 28, 2021 at 7:29 am GMT

NZDUSD has been struggling to surpass the wall composed by the squeezed Ichimoku cloud and the 23.6% Fibonacci of the 0.6510 – 0.7463 up leg at 0.7238 over the past week. The short-term bias remains tilted to the upside, though it is currently looking anemic as the RSI is ranging above its 50 neutral mark, while the MACD is rising at a slower pace within the positive area. Slightly above the 0.7238 resistance, the broken supportive trendline seen around 0.7300 could be [..]

US Open Note – Market in calm tone ahead of earnings and FOMC

Posted on April 27, 2021 at 12:57 pm GMT

Dollar and euro tick up The greenback is regaining some ground versus the Japanese yen, holding around 108.40 ahead of the Federal Reserve policy decision tomorrow, no changes are expected in policy settings. The dollar index is still moving with weak momentum near 91.00 and below the 50-day simple moving average (SMA). Jerome Powell will give hints on whether improving economic conditions justify a tapering of monetary easing. Euro/dollar is flattening, remaining below the two-month high at 1.2116 and pound/dollar is surpassing the 1.3900 number. In commodity [..]

Daily Market Comment – Dollar pares losses, stocks muted in wait for Fed, earnings

Posted on April 27, 2021 at 9:10 am GMT

Firmer Treasury yields help dollar steady as traders look to Fed for the next cue US consumer confidence data, Treasury auction eyed as inflation worries persist Another record on Wall Street as earnings season heats up but overall mood subdued Dollar attempts rebound as Fed outcome awaited The US dollar was still licking its wounds on Tuesday as it clawed higher in lacklustre trading ahead of the FOMC decision on Wednesday. Although nothing new is anticipated by the Fed tomorrow [..]

US Open Note – Dollar rebounds off new lows ahead of busy week

Posted on April 26, 2021 at 1:18 pm GMT

Dollar remains under pressure; big earnings are coming up The key event of the week is the FOMC meeting on Wednesday and a packed earnings schedule, starting with Tesla after the US market close. As US yields are still depressed, the US dollar index is drifting below the 91.00 crucial level, while dollar/yen is moving horizontally around the 108.00 round number after the pullback off the 13-month peak of 110.95. If there is a turnaround in US yields then there is an expectation of the dollar to regain some ground. US Durable [..]

Daily Market Comment – Dollar slump deepens, stocks quiet ahead of big earnings

Posted on April 26, 2021 at 8:51 am GMT

Dollar rout continues as Fed expected to repeat dovish message Euro capitalizes, climbs to 2-month top on renewed European optimism Stocks lack direction, await key earnings and barrage of US data releases Dollar stuck in the doldrums but yields firmer eyeing Fed It’s Fed week but the dollar can’t catch a break as the US currency extended its slide on Monday against its major peers amid a combination of a dovish Fed rate outlook and rising optimism in other parts [..]

Technical Analysis – NZDUSD fights with 20-period SMA below 0.72

Posted on April 23, 2021 at 7:50 am GMT

NZDUSD has gained little today, but it managed to hold below the 20-period simple moving average (SMA), with the technical indicators feeding prospects for a positive short-term trading; the RSI holds well above 50, while the stochastic oscillator continues to strengthen. Also, in Ichimoku indicators, the red Tenkan-sen line stands above the blue Kijun-sen. A successful bounce above the 20-period SMA could send the price up to 0.7228, a challenging point over the last month. On top of that, the bulls will need to clear the 0.7267 [..]

Technical Analysis – NZDUSD consolidates as cloud contests price gains

Posted on April 21, 2021 at 9:33 am GMT

NZDUSD’s recent propulsion over a restrictive line and the 50- and 100-day simple moving averages (SMAs) is being curbed by the Ichimoku cloud around the 0.7239 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 0.6510 until 0.7464. The climbing 200-day SMA is shielding the positive structure, while the 50- and 100-day SMAs are reflecting a neutral phase in the pair. The Ichimoku lines indicate that positive momentum has lost its might, while the oscillators [..]

US Open Note – Euro capitalizes on battered dollar; Canada unveils new fiscal plan

Posted on April 19, 2021 at 12:56 pm GMT

Europe in green as dollar struggles The persisting weakness in US Treasury yields and some encouraging vaccine news in Europe left the dollar bruised on Monday. The vaccine success in the US and the optimistic outlook for the economy, although supportive to the greenback, have become old news for traders, while the stabilization in US Treasury yields suggests the Fed is likely becoming more successful in convincing markets that monetary policy will remain accommodative at current levels until substantial progress [..]

US Open Note – Dollar remains under pressure; euro hits wall at $1.20

Posted on April 16, 2021 at 12:49 pm GMT

Quieter end to the week; Morgan Stanley releases earnings A calmer session in the forex and stock markets is on the cards today. The US dollar index is struggling around the 91.60 level and the 50-day simple moving average (SMA), which is acting as a crucial level. Dollar/yen rebounded off the 40-day SMA and the 108.40 support, pointing marginally up today. The futures of the S&P 500, Nasdaq 100, and Dow Jones were pointing to a slightly positive open again after a new record high on Thursday. [..]

Daily Market Comment – Yields plunge, defy logic, after blowout data, but dollar steadies

Posted on April 16, 2021 at 9:06 am GMT

US economy firing on all cylinders as data keeps getting better But Treasury yields in surprise fall; dollar off lows as gold jumps to 7-week high Wall Street hits another record on upbeat earnings US recovery gathers steam but Treasuries in puzzling move The US economic outlook continued to brighten after retail sales surged almost 10% in March and jobless claims declined to a new post-pandemic low last week. The stellar data indicate America’s recovery is racing ahead of its [..]

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