All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD posts some significant gains

Posted on April 4, 2024 at 12:54 pm GMT

NZDUSD pulls back from 4-month low Oscillators suggest bullish retracement NZDUSD is currently testing the 20-day simple moving average (SMA) near the 0.6035 resistance level following the bounce off the 0.5940 support. The market is recovering from some of its losses with the technical oscillator confirming the upside movement. The RSI is ticking higher approaching the neutral threshold of 50, while the MACD crossed its trigger line to the upside but remains beneath the zero level. Should the price decisively [..]

Technical Analysis – NZDUSD halts decline at 23.6% Fibonacci

Posted on April 3, 2024 at 8:07 am GMT

NZDUSD declines sharply within descending channel Drops below both 50- and 200-day SMAs to a 4-month low Oscillators remain deep in their negative territories NZDUSD has been in an aggressive downtrend since its double rejection at the 0.6217 level in early March. Despite dropping to a fresh four-month bottom this week, the pair seems to be finding its footing around 0.5952, which is the 23.6% Fibonacci retracement of the 0.6536-0.5772 downtrend. Given that both the RSI and MACD are heavily tilted to the downside, the price [..]

Market Comment – Dollar and gold rise in tandem as Fed rate cut bets pared back

Posted on April 2, 2024 at 9:17 am GMT

Dollar strengthens across the board after upbeat ISM as June cut hopes fade Japan keeps up intervention rhetoric as yen stays under pressure Gold undeterred by strong dollar, rebounds towards record high Equities mixed ahead of crucial European and US data Rate cut bets suffer another blow Hopes for an early rate cut by the Fed were dashed again on Monday following yet another upbeat data release out of the US. The ISM manufacturing PMI rose more than expected in [..]

Technical Analysis – NZDUSD returns to bearish trend

Posted on March 27, 2024 at 9:19 am GMT

NZDUSD extends bearish trend to a four-month low Resistance near 0.6000; support seen at 0.5980 Following two weeks of losses, NZDUSD is now aiming to find a firm footing around 0.6000, having dropped to a four-month low of 0.5984. The latest bearish wave has re-activated the downtrend from December’s peak of 0.6368. Overcoming the 61.8% Fibonacci retracement of the October-December upleg at 0.6000 may prove difficult, leading to a decline below the support trendline at 0.5980 and a subsequent search for support around the 0.5900 [..]

Technical Analysis – NZDUSD tumbles to 0.6000 critical level

Posted on March 22, 2024 at 12:00 pm GMT

NZDUSD unlocks new 4-month low Price holds beneath trading range and 200-day SMA Bearish outlook may be on the cards NZDUSD is plunging towards the 0.6000 key level, posting a new four-month low and penetrating the short-term trading range to the downside. The price is also holding beneath the 200-day simple moving average (SMA) indicating that a bearish tendency is on its way. Technically, the RSI indicator is creating a falling tendency, heading towards the 30 level, while the MACD [..]

Technical Analysis – NZDUSD in the red again ahead of the Fed

Posted on March 20, 2024 at 8:34 am GMT

NZD remains on the back foot against USD NZDUSD has finally broken below its one-year-long rectangle Momentum indicators acknowledge the current bearish move NZDUSD is recording another red candle today and it is trading below the lower boundary of the one-year-old rectangle and the busy 0.6060-0.6092 area. It has actually registered a new 2024 low with the market now turning its focus to the critical Fed meeting, which could result in increased volatility in NZDUSD as made evident by the [..]

Market Comment – BoJ hikes, scraps yield curve control, but yen slumps

Posted on March 19, 2024 at 10:08 am GMT

BoJ ends negative rates and yield curve control in historic move But yen can’t catch a break as Ueda signals ongoing accommodative stance Aussie also under pressure as RBA tones down tightening bias Dollar resumes climb before Fed comes into the limelight BoJ ditches most stimulus-era policies As had been widely speculated, the Bank of Japan announced an end to eight years of negative interest rates and sharply scaled back its asset purchases after its policy meeting on Tuesday, in [..]

Week Ahead – Five central banks: who will hike, who will not cut?

Posted on March 15, 2024 at 11:26 am GMT

Fed meets on Wednesday with focus on new dot plot Will the Bank of Japan finally end negative rates on Tuesday? BoE and RBA to stick with patience, SNB might be in more of a rush to cut Flash PMIs plus inflation data in the UK, Japan and Canada will also be crucial Fed decision: hoping for the best The upcoming week will undoubtedly be one of the busiest, not to mention the most important, of the year for investors [..]

Technical Analysis – NZDUSD holds within consolidation area

Posted on March 13, 2024 at 10:09 am GMT

NZDUSD finds support at short-term SMAs RSI and MACD still above mid-levels NZDUSD has been consolidating within a trading range of 0.6035 to 0.6215 over the last two months, remaining above the 200-day simple moving average (SMA). Currently, the 20- and the 50-day SMAs are acting as strong support lines with the technical oscillators indicating a slight upside move. The RSI is ticking north above the neutral threshold of 50, while the MACD is still standing in the positive territory. [..]

Technical Analysis – NZDUSD stuck in a rectangle pattern

Posted on March 6, 2024 at 8:37 am GMT

NZDUSD gets rejected after claiming 50-day SMA But the decline meets strong support at 200-day SMA Oscillators remain in their negative territories NZDUSD had been in a downtrend since its rejection at 0.6373, which is the 78.6% Fibonacci retracement of the 0.6536-0.5772 region. Despite the pair’s attempt for recovery and its temporary break above the 50-day simple moving average (SMA), it reversed back within its short-term sideways pattern. Given that both the RSI and MACD are tilted to the downside, [..]

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