NZDUSD bears appear running out of steam after a four-week downtrend as the Kiwi pair portrays a one-month-old falling wedge bullish chart formation at the yearly low amid the oversold RSI (14) line. That said, the 10-DMA surrounding 0.6045 guards immediate recovery of the quote ahead of the key 0.6060 resistance comprising the top line of the stated wedge. In a...
NZDUSD jumps to a three-week high while piercing the 200-EMA even as the Reserve Bank of New Zealand (RBNZ) refrains from lifting interest rates for the first time since October 2021. It’s worth noting, however, that the Kiwi pair remains within a five-month-old bearish channel while approaching the immediate hurdle, namely the previous monthly high of around...
NZDUSD fails to justify the RBNZ’s 0.25% rate hike as it drops the most in a week after the Interest Rate Decision. The reason could be linked to the New Zealand central bank’s keeping of top rate level and the Governor’s inability to defend the hawkish move. With this, the Kiwi pair drops towards the 200-DMA support of around 0.6150. However, an upward-sloping...
NZDUSD managed to ignore the US Dollar strength in the last week amid hawkish expectations from the RBNZ. The kiwi pair also bounced off a one-month-old ascending support line, as well as stayed beyond the 200-SMA, to keep the buyers hopeful. However, an expected last rate hike from the New Zealand central bank might pour cold water on the face of the Kiwi pair...
NZDUSD extends the early March’s bearish consolidation inside a three-week-old ascending trend channel as RBNZ announces the 11th consecutive rate increase. More importantly, the New Zealand central bank pleases the Kiwi bulls to renew the 7-week top by a surprise 0.50% rate hike versus the 0.25% expected. It’s worth noting, however, that the RSI conditions...
NZDUSD dribbles around a seven-week low as the Reserve Bank of New Zealand (RBNZ) announced a 0.50% rate hike on Wednesday. In doing so, the Kiwi pair fades the previous week’s bounce off 200-DMA amid a nearly oversold RSI (14). That said, bearish MACD signals and an early February reversal from a six-month-old ascending resistance line keep the sellers hopeful of...
Despite 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...
Although 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....
NZDUSD 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...
NZDUSD 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...
NZDUSD 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...
Although 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...
NZDUSD 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...
NZDUSD 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...
Having reversed from a two-month-old support-turned-resistance, NZDUSD stays inside a monthly falling wedge bullish chart pattern ahead of the Reserve Bank of New Zealand’s (RBNZ) third consecutive rate hike. RSI conditions and a falling wedge at multi-month low tease sellers ahead of the key event for the Kiwi pair. However, the 61.8% Fibonacci Expansion (FE) of...
NZDUSD renews a three-week high around 0.6500 after the RBNZ confirmed the widely anticipated 0.50% rate hike. The upside momentum takes clues from the early-week break out of a downward sloping trend line from the April peak and the 20-DMA, around 0.6385-80. Also keeping the bulls hopeful is the RSI (14) conditions, firmer but not overbought.
That said, a...
Firmer RBNZ Inflation Expectations for Q4 propels NZDUSD towards confirming falling wedge bullish formation, extending run-up towards the 200-SMA level of 0.7070 by the press time of early Thursday. It should be noted, though, that the 38.2% Fibonacci retracement (Fibo.) of September-October upside, near 0.7085, adds to the upside filter and may probe the bulls...
RBNZ leads the developed-world central banks with a 0.25% rate hike on Wednesday but couldn’t lift the NZDUSD prices. The reason can be linked to the broad US dollar strength amid risk-off mood and firmer Treasury yields. Technically, the Kiwi pair’s failures to cross the 10-DMA hurdle joined the bearish MACD signals and downward sloping RSI line to weigh on the...
