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NZDUSD

NZDCHF BULLISH FORECAST * Ascending triangle, mostly found in uptrend, and mostly bullish continuation. * The RBNZ increased it's interest rate by 75bps as expected, and the RBNZ were Hawkish, hence we expect more bullish presure with NZDCHF and NZD related pairs. * Break below the triangle may violate the pattern. Note: All ideas forecasts are my personal views on the market, I share these ideas for free, and you're free to share my profile link with your friends, please do not use my Idea without credit. I post and share for educational purposes hence no idea we publish should be considered an investment advice. I mostly share ideas with more than normal conviction, meaning I mostly share ideas with High conviction. You can check all my work, you can understand my style of analysing market, please if you like my work do help me earn reputation and like, comment on my ideas, we can discuss more here.
Long
by CELGIB_TRADING
NZDUSD stays on the buyer’s radar on RBNZ dayDespite the RBNZ-led volatility, NZDUSD defends the early month breakout of the 100-DMA and a downward-sloping trend line from April 05. That said, the 38.2% Fibonacci retracement level of the pair’s April-October downturn, near 0.6090, restricts the Kiwi pair’s immediate declines ahead of the aforementioned resistance-turned-support line, close to 0.6040 at the latest. Following that, the 100-DMA and a six-week-old ascending trend line, respectively near 0.6015 and the 0.6000 round figure, could act as the last defenses of the pair buyers before welcoming the bears. Meanwhile, the pair’s upside momentum needs a daily closing beyond the monthly high surrounding 0.6205 to convince NZDUSD buyers. In that case, the 50% Fibonacci retracement and the 200-DMA, close to 0.6270 and 0.6305 in that order, will be in the spotlight. Should the New Zealand dollar remains firmer beyond the 200-DMA, the 61.8% Fibonacci retracement, also known as the golden ratio, might probe the north-run near 0.6455, a break of which won’t hesitate to challenge the tops marked in May-June around 0.6570-75. Overall, NZDUSD is likely to remain the bull’s favorite unless breaks the 0.6000 threshold.
by MTradingGlobal
RBNZ Rate DecisionReserve Bank Of New Zealand Interest rate decision: The Consumer Price Index CPI rose by 7.2% in September 2022, it's fall from August's print but still higher than experts thought which the consensus is 6.5. Economists expect the Reserve Bank of New Zealand to lift the cash rate by a record 75bps while money markets wager a roughly 65% probability for the biggest ever rate point hike this month. Guys my take on this rate saga are: I'm bullish with NZDJPY, NZDUSD, NZDCHF, if the bank increase its OCR by 75bps. I'm bearish with NZDJPY, NZDUSD, NZDCHF, if the bank increase its OCR by only 50bps. Because the New Zealand Dollar needs an upward revision to the Bank's rate hike trajectory and Hawkish rhetoric from the governor Adrian Orr to resume it's March towards 0.6250 against US Dollar.
by CELGIB_TRADING
💡Don't miss the great buy opportunity in NZDUSDTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (0.5575). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . NZDUSD is in a range bound, and the beginning of an uptrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 66. Take Profits: TP1= @ 0.5627 TP2= @ 0.5673 TP3= @ 0.5727 TP4= @ 0.5764 TP5= @ 0.5805 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
NZDUSD struggles to justify RBNZ’s eighth rate hikeAlthough the RBNZ didn’t disappoint, like the RBA, and announced a widely expected 0.50% rate hike, the NZDUSD pair remains mildly bid after refreshing the weekly top. In doing so, the Kiwi pair stays below a one-week-old horizontal hurdle surrounding 0.5750. With this, the odds of the quote’s pullback towards the latest swing low near 0.5680 can’t be ruled out. However, the 0.5620 and the yearly low around 0.5565 will challenge the bears afterward. Meanwhile, a successful break of the 0.5750 resistance will aim for the 100-SMA hurdle near 0.5830. Following that, a downward sloping trend line from August 12, close to 0.5925 by the press time, will challenge the NZDUSD pair’s further upside. It’s worth noting that the 200-SMA resistance near 0.5980 appears the last defense of the bears, a break of which won’t hesitate to probe the previous monthly top near 0.6160. Overall, NZDUSD remains in a bear trap despite the latest rebound. The downside, however, appears limited.
by MTradingGlobal
NZDUSD hovers above 0.5890 key support as the Fed week beginsNZDUSD dropped to the lowest level since May 2020 before bouncing off 0.5940 on Friday. The recovery, however, remains unattractive as the Kiwi pair stays inside a six-week-old bearish channel. Even so, the oversold RSI conditions may allow short-term buyers to aim for 0.6100-10 resistance confluence, including the 21-DMA and the stated channel’s upper line. It’s worth noting that multiple lows marked during late July and early August could act as extra upside filters around 0.6220, a break of which could quickly propel the prices towards the previous monthly top near 0.6470. Alternatively, a convergence of the aforementioned channel’s bottom and a downward sloping support line from May 12 constitute the 0.5890 level as a crucial downside support for the NZDUSD bears to watch during the pair’s further declines. Also acting as an extra check for sellers is the 61.8% Fibonacci Extension (FE) of the pair’s April-August moves, near 0.5870. If at all the Kiwi pair breaks the 0.5870 support, the odds of its south-run towards the 78.6% FE level surrounding the 0.5700 threshold can’t be ruled out. Overall, NZDUSD remains in a bearish trend ahead of the key FOMC meeting, as well as today’s speech from RBNZ Governor Adrian Orr.
by MTradingGlobal
💡Don't miss the great buy opportunity in NZDUSDTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (0.6185). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . NZDUSD is in a range bound, and the beginning of an uptrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 62. Take Profits: TP1= @ 0.6250 TP2= @ 0.6280 TP3= @ 0.6315 TP4= @ 0.6364 TP5= @ 0.6382 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
2
NZDUSD stays on the way to refreshing yearly lowNZDUSD picks up bids inside a weekly trading range that restricts the pair’s move after it dropped below a five-week-old ascending trend line and the 200-SMA. Given the quote’s sustained trading below the previous key supports, as well as the bearish MACD signals and downbeat RSI (14), the pair is likely to witness further downside. That said, the 78.6% Fibonacci retracement of July-August upside, near 0.6150, appears immediate rest of the sellers ahead of the yearly bottom marked in July around 0.6060. If the bears dominate past 0.6060, which is most likely, the south-run could well approach the 0.6000 psychological magnet. Meanwhile, the NZDUSD rebound remains tepid until the quote stays below the convergence of the 200-SMA and the support-turned-resistance line, close to 0.6250. Following that, the 38.2% Fibonacci retracement level near 0.6315 and the August 01 peak surrounding 0.6355 will be on the bull’s radar. It’s worth noting, however, that the quote’s run-up beyond 0.6355 won’t hesitate to challenge the monthly top close to 0.6470, with the 0.6400 round figure likely acting as an intermediate halt during the rise. Overall, NZDUSD is on the bear’s radar as RBNZ Governor Adrian Orr is bracing for a speech at the Jackson Hole symposium.
Short
by MTradingGlobal
NZDUSD rebound appears unconvincing below 0.6250NZDUSD bounces off a five-week low as it extends the corrective pullback from a weekly falling channel’s support line. In doing so, the Kiwi pair also traces the oversold RSI while approaching the 61.8% Fibonacci retracement level of July-August moves, around 0.6215. The quote’s further upside, however, remains doubtful as the 200-SMA and upper line of the stated channel, close to 0.6250, will challenge the bulls afterward. Should the pair rise past 0.6250, the 0.6300 round figure may act as an intermediate halt during the run-up towards the early August swing high, near 0.6350-55. Alternatively, pullback moves may revisit the support line of the aforementioned channel and the 78.6% Fibonacci retracement level, around 0.6150, will be a crucial support. In a case where the NZDUSD bears conquer 0.6150 support, the southward trajectory towards the yearly low marked in July, near 0.6060, followed by the 0.6000 psychological magnet, can’t be ruled out. Overall, NZDUSD is likely to witness further recovery but the upside momentum has limited room to the north.
by MTradingGlobal
NZDUSD braces for fresh 2022 low with eyes on 0.6195 breakAlthough 20-DMA triggered the NZDUSD pair’s latest rebound, the first weekly loss in three joined RSI retreat to keep bears hopeful. The downside momentum, however, needs validation from the three-month-old horizontal support area around 0. 6210-0.6195, other than the 20-DMA level of 0.6225, to push back the buyers. Following that, the previous monthly low, also the yearly bottom surrounding 0.6060, will be in focus. Should the quote remains bearish past 0.6060, the 61.8% Fibonacci Expansion (FE) of late April to early August moves, close to 0.5990, may lure the sellers. Meanwhile, recovery moves remain unimpressive below a downward sloping resistance line from early June, around 0.6335 by the press time. Even so, the monthly peak surrounding 0.6355 and the mid-June swing high of 0.6395 could challenge the NZDUSD buyers. It’s worth noting, however, that the Kiwi pair’s run-up beyond 0.6395 may wait for a successful run-up above the 0.6400 round figure before giving the control to bulls targeting June’s high near 0.6575. Overall, NZDUSD is on the bear’s radar as traders await key inflation data from New Zealand and the US.
Short
by MTradingGlobal
200-SMA tests NZDUSD bears after New Zealand employment dataNZDUSD justifies downbeat Q2 New Zealand job numbers while refreshing weekly low, following downside break of a three-week-old bullish channel. However, the 200-SMA restricts further declines of the Kiwi pair, which in turn joins firmer China PMI to trigger the latest rebound. However, support line of the aforementioned channel, near 0.6255, guards immediate recovery moves ahead of directing buyers towards weekly peak of 0.6352. Following that, the Kiwi pair can aim for the mid-June high around 0.6395. However, the 0.6400 threshold and upper line of the stated channel, around 0.6410 by the press time, could challenge the pair’s further advances. Meanwhile, a downside move needs validation from the 38.2% Fibonacci retracement of June 16 to July 14 fall, around 0.6190. Following that, the NZDUSD bears can aim for the 23.6% Fibonacci retracement level surrounding 0.6140. In a case where the pair remains weak past 0.6140, it won’t hesitate to drag the quote towards the yearly low marked in July around 0.6060. Additionally, the south-run towards the 0.6000 psychological magnet becomes imminent in a case if the pair renews yearly low.
by MTradingGlobal
NZDUSD recovery hinges on 0.6200 breakoutNZDUSD ended the third loss-making week on a positive side, by marking the biggest daily gains in three weeks. The Kiwi pair, however, couldn’t cross a one-month-old resistance line, which in turn joins steady RSI to keep sellers hopeful. Even if the quote rises past 0.6170 hurdle, a horizontal area from mid-June around 0.6200, comprising the 100-SMA, appears a tough nut to crack for the pair buyers. Though, a successful break of 0.6200 could quickly propel the quote towards 0.6250 before teasing the bulls to aim for the 78.6% Fibonacci retracement of the June-July downside, near 0.6325. On the other hand, pullback moves may initially rest around the 0.6100 support before challenging the recently flashed two-year low around 0.6060. In a case where NZDUSD remains bearish past 0.6060, the 0.6000 psychological magnet will be important to watch as a clear break of the same could direct sellers toward May 2020 low near 0.5920. Fundamentally, the recent New Zealand inflation data came in firmer than expected and raised possibilities of aggressive rate hikes from the Reserve Bank of New Zealand (RBNZ), keeping NZDUSD bulls hopeful.
by MTradingGlobal