Category: NZDUSD
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NZDUSD moves back into swing area and between 100/200 day MAs going into the weekend.
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NZDUSD has been trading above and below the 100-day moving average this week but above the 200-day moving average (green line) until the Reserve Bank of New Zealand’s interest rate decision mid-week. The central bank cut interest rates by 50 basis points sending the pair below the 61.8% level but…
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NZDUSD continues lower today. RBNZ 50 BP cut expected next week.
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The Reserve Bank of New Zealand will meet next week and the expectation is for a 50 basis point cut (they will meet on Wednesday in New Zealand). Today, the price fell below a swing zone between 0.6167 and 0.61796. That area will now be nearby resistance. On the downside,…
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NZDUSD Technical Analysis – The USD stays under pressure ahead of the FOMC
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Basic Overview Last Thursday, The Wall Street Journal’s Timiraos published an article that seemed to suggest that a 50 basis point cut was still under discussion. The market responded by raising the odds of a 50 basis point cut to about 40% from 13% before the news. Nick Timiraos is…
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NZDUSD Technical Analysis – We are testing a key trendline
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Basic Overview Yesterday, we got the US ISM Manufacturing PMI, and although the headline number came in below expectations, the report was better than the previous month. The bad news was that new orders continued to fall to a contractionary level, which is an indicator of demand and is generally…
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NZDUSD Technical Analysis – We are testing a key trendline
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Basic Overview Yesterday, we got the US ISM Manufacturing PMI, and although the headline number came in below expectations, the report was better than the previous month. The bad news was that new orders continued to fall to a contractionary level, which is an indicator of demand and is generally…
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NZDUSD falls helped by risk-off,commodity selling, slower growth.What about the technical?
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The NZD/USD pair is trading at fresh lows as traders react today to risk-off sentiment as stocks/commodities decline. Concerns over growth in the US and China are also weighing on the pair. We recalled last week that the NZD/USD pair peaked on Thursday after the release of a surprise business…
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NZDUSD tests close to 0.63 after earlier NZ data
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The New Zealand dollar made another strong move this morning, testing a level close to the psychological 0.63 level. NZDUSD currency pair approaches 0.63 level The New Zealand dollar surprised many after the currency failed to fall following the recent dovish move by the Reserve Bank of New Zealand. I…
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NZDUSD tests close to 0.63 after earlier NZ data
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The New Zealand dollar made another strong move this morning, testing a level close to the psychological 0.63 level. NZDUSD currency pair approaches 0.63 level The New Zealand dollar surprised many after the currency failed to fall following the recent dovish move by the Reserve Bank of New Zealand. I…
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NZDUSD Technical Analysis – The Kiwi benefits from the USD weakness
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Basic Overview The US dollar remains under pressure amid positive risk sentiment and an impending rate cut by the Fed that should help global growth. These factors are generally bearish drivers for the US dollar. In fact, the recent strong rally in the New Zealand dollar has been driven mostly…
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NZDUSD Technical Analysis – The Kiwi benefits from the USD weakness
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Basic Overview The US dollar remains under pressure amid positive risk sentiment and an impending rate cut by the Fed that should help global growth. These factors are generally bearish drivers for the US dollar. In fact, the recent strong rally in the New Zealand dollar has been driven mostly…
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NZDUSD Technical Analysis – A more dovish RBNZ weighs on the Kiwi
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Basic Overview Yesterday, the US PPI report came in below expectations by a wide margin, leading to a sell-off in the US dollar as the market began to prepare for a potentially weak US CPI release today. This led to a major breakout in the NZD/USD pair, which was short-lived…
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The NZDUSD has set close support and resistance to start the new week
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The NZD/USD pair fell at the start of the Asian session, and in the process found support from buyers against its 100-hour moving average. The price rebounded and moved towards its highest level from last Friday’s trading. This high level was stopped before its 100-day moving average and the 61.8%…
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NZDUSD finds willing sellers against the 100 day MA this week
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The NZD/USD pair fell to its lowest level this year on Monday on the back of a sharp decline in the Nikkei 225 (-12.4%). However, this new low was only a few pips above the April 2024 low, and the price rose sharply. The momentum stalled near last week’s highs…
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NZDUSD moves higher and moves closet to resistance targets. Could see some profit taking.
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The New Zealand dollar rose against the US dollar during today’s trading, supported by improving employment expectations and risks to flows after the Bank of Japan said it does not need to tighten monetary policy if markets are unstable. The move to the upside has lifted the price above the…
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NZDUSD tumbles lower and rocket higher in a volatile trading day. What next?
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The NZD/USD pair had a rollercoaster ride today as the pair hit a new low for the year (but only by about 3 pips). This low broke the lows of April and July. After the brakes failed, the price rocketed higher, erasing all the declines and trading higher during the…
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AUDUSD is bouncing after exhausting momentum. NZDUSD has a small bounce. Not impressed
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The AUDUSD and NZDUSD pairs have been going hand in hand this week towards the downside, but the NZDUSD pair has seen more bearish momentum. Yesterday, the AUD/USD pair fell below its 200-day moving average and 50% retracement near 0.6583 and 0.6579 respectively. The price then gained momentum after breaking…
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AUDUSD is bouncing after exhausting momentum. NZDUSD has a small bounce. Not impressed
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The AUDUSD and NZDUSD pairs have been going hand in hand this week towards the downside, but the NZDUSD pair has seen more bearish momentum. Yesterday, the AUD/USD pair fell below its 200-day moving average and 50% retracement near 0.6583 and 0.6579 respectively. The price then gained momentum after breaking…
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NZDUSD Technical Analysis – The RBNZ weighed on the Kiwi
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Basic Overview The US dollar fell broadly last week after another weak US CPI report and positive jobless claims numbers. The market has not only priced in a September rate cut, but has also started to price in some chances of a back-to-back rate cut in November. Overall, we had…
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UBS revises NZD/USD forecast, expects RBNZ rate cut in August By Investing.com
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UBS has updated its forecast for the New Zealand dollar (NZD), expecting a weaker-than-expected performance against its G10 peers, including the US dollar. The adjustment follows a previous warning on May 30 that the pair was on thin ice due to a mismatch between net long positions and growth expectations.…
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NZDUSD Technical Analysis – A look at the chart ahead of the RBNZ decision
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Basic Overview The US dollar has been broadly weaker since last Friday following the weak US non-farm payrolls report. The data showed further slowdown in the labor market with the unemployment rate rising and wage growth declining. Basically we have an economy that is slowing but still growing. We will…