All Articles Tagged - NZDUSD

Technical Analysis – NZDUSD surges above 200-day SMA; positive signals intact

Posted on June 3, 2020 at 8:11 am GMT

NZDUSD recently received a positive boost that thrusted the price above the 200-day simple moving average (SMA). The pair is continuing its approach towards the 0.6451 level, which is the 76.4% Fibonacci retracement of the down leg from 0.6754 to the 11-year low of 0.5468. Further backing the appreciation in price is the improving 50-day SMA at 0.6063 and the rising Ichimoku lines. The MACD is accelerating above its red signal line in the positive region, while the rising RSI [..]

Technical Analysis – NZDUSD looks for more gains but path could be challenging

Posted on May 27, 2020 at 7:15 am GMT

NZDUSD is recording its second week of gains thanks to the descending trendline stretched from the 0.6754 peak that managed to curb downside corrections once again, allowing the price to advance to a 2 ½-month high of 0.6227 on Tuesday. The RSI and the MACD are still in favour of bullish actions but the pair has several key obstacles to go through on the way up. First is the 0.6200-0.6260 restrictive zone which is currently under examination. Clearing this area, [..]

Daily Market Comment – Hong Kong leads global markets lower as tensions spike

Posted on May 22, 2020 at 8:34 am GMT

Risk aversion deepens as China announces new security laws in Hong Kong Dollar and yen edge higher, global stocks sell off on fears of US retaliation Range breakouts rejected across multiple charts – S&P 500, euro, aussie, loonie Hong Kong sparks worries of new chapter in US-China tensions Global risk appetite crumbled on Friday, after China announced plans to establish an ‘enforcement mechanism’ for ‘safeguarding national security’ in Hong Kong. The news came hot on the heels of legislation to [..]

Technical Analysis – NZDUSD dwindles ahead of ceiling of directionless market

Posted on May 22, 2020 at 6:40 am GMT

NZDUSD appears to be fading from the vicinity of the upper boundary of the range of 0.6175 towards the 0.6073 level, that being the 61.8% Fibonacci retracement of the down leg from 0.6447 to the 11-year low of 0.5468, and the converged simple moving averages (SMAs) beneath. The short-term oscillators display the weakening in positive momentum. Yet, a pickup in bullish momentum cannot be ruled out for now, as the RSI in the positive area has turned back up ahead [..]

Daily Market Comment – Nasdaq charges higher, pound feels heat of negative rates

Posted on May 21, 2020 at 8:23 am GMT

Stocks defy economic gravity; Nasdaq closes in on record highs But markets more cautious Thursday, after Trump’s twitter storm vs China Pound rebound falters as BoE Governor doesn’t rule out negative rates Dollar finds its footing ahead of speeches by Fed’s top echelon Nasdaq approaches all-time high, but futures retreat Close your eyes and you wouldn’t know we are in the middle of a deep recession. At least not by looking at the Nasdaq 100 (+2%), which closed less than [..]

Daily Market Comment – Stocks trapped in ‘no man’s land’, but yen slides

Posted on May 20, 2020 at 8:32 am GMT

Equities pull back as vaccine doubts set in, still stuck in a range Yet broader FX market in a ‘risk on’ mood, yen bruised by BoJ news Bank of England speakers in focus today ahead of Fed minutes Markets look for another catalyst as vaccine rally falters The vaccine-powered euphoria that propelled stocks higher at the start of the week gave way to skepticism on Tuesday, as reports blasted the lack of data in Moderna’s vaccine study, stressing that the [..]

Technical Analysis – NZDUSD surpasses SMAs but bias is neutral

Posted on May 20, 2020 at 6:43 am GMT

NZDUSD has been on the sidelines over the last six weeks with a strong resistance level at the 50.0% Fibonacci retracement level of the down leg from 0.6750 to 0.5476 at 0.6110 and the 0.6175 barrier. Also, it found significant support at the 0.5910 level and the lower surface of the Ichimoku cloud. The RSI indicator is suggesting weak upside movement while the MACD is flattening, confirming the recent view in the short-term. Immediate resistance is coming from the 0.6175 [..]

Daily Market Comment – Vaccine hopes power markets higher, can Powell add more fuel?

Posted on May 19, 2020 at 8:28 am GMT

Vaccine headlines, Fed stimulus bets, and EU recovery package propel stocks higher Yen, dollar, and franc suffer as euro and commodity currencies cheer Fed chief testifies before US Senate today (14:00 GMT), can he keep the ‘party’ going? Perfect storm for stocks Risk appetite returned with a vengeance to global markets on Monday, with the S&P 500 (+3.15%) having its best day in weeks amid a perfect storm of news around a virus vaccine, more Fed stimulus, and a European [..]

Daily Market Comment – Stocks and gold climb as Fed hopes overpower trade fears

Posted on May 18, 2020 at 8:34 am GMT

US equities set to open higher, gold soars after Fed chief’s ‘whatever it takes’ moment But escalating US-China tensions & second wave fears lurking in the background Pound sinks as investors brace for Brexit talks to fall apart Powell turbocharges gold, lifts stocks Global markets are in a good mood on Monday, with commodity currencies recovering and Wall Street set for a ~1.5% higher open, following a ‘whatever it takes’ moment from Fed Chairman Powell. In remarks published over the [..]

Technical Analysis – NZDUSD declines after hitting 0.6015; seems bearish in near term

Posted on May 15, 2020 at 10:07 am GMT

NZDUSD looks to be mostly bearish after a descent from the 0.6155 resistance level, returning the price back below the simple moving averages (SMAs) and the Ichimoku cloud. The short-term oscillators reflect a stall in the negative momentum. The MACD, in the negative area, has moved above its red trigger line, while the RSI hovers below its neutral mark, pointing slightly up. That said, a conflicting bearish picture is currently displayed within the Ichimoku lines and all the SMAs. If [..]

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