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New Zealand Dollar / U.S. Dollar

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NZDUSD trade ideas

NZDUSD bulls eye four-month-long hurdle past 0.6500 on RBNZNZDUSD 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 horizontal area comprising levels marked since late January, around 0.6540, appears a tough nut to crack for the pair buyers. In a case where the quote rises past 0.6540, the upward trajectory towards the 50-DMA level surrounding 0.6660 can’t be ruled out. Meanwhile, a downside break of 0.6380 could direct NZDUSD sellers towards 0.6290-85 intermediate support ahead of highlighting the monthly low of 0.6210 on the bear’s radar. Overall, NZDUSD buyers are ready for further upside but multiple levels stand tall to test the north-run.
Long
by MTradingGlobal
💡Don't miss the great buy opportunity in NZDUSD Trading suggestion: ". There is a possibility of temporary retracement to the suggested support line (0.646). . 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 51 Take Profits: TP1= @ 0.652 TP2= @ 0.656 TP3= @ 0.658 TP4= @ 0.664 TP5= @ 0.669 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 long side analysis by technical and fundamentals.NZD/USD higher after the larger than expected interest rate hike from the RBNZ Reserve Bank of New Zealand raised its cash rate by 0.5% vs. the 0.25% consensus expectation says will remain focused on ensuring that current high consumer price inflation does not become embedded into longer-term inflation expectations. monetary tightening brought forward remained comfortable with the outlook for the OCR as outlined in their February MPS moving the OCR to a more neutral stance sooner will reduce the risks of rising inflation expectations. larger move now also provides more policy flexibility ahead in light of the highly uncertain global economic environment From the minutes to the meeting, these are released at the same time as the decision: committee noted that the OCR is stimulatory at its current level members agreed that this ‘stitch in time’ approach is consistent with near-term financial market pricing members noted that annual consumer price inflation is expected to peak around 7 percent in the first half of 2022 committee agreed that their policy ‘path of least regret’ is to increase the OCR by more now, rather than later members noted that inflation is above target and employment is above its maximum sustainable level the committee confirmed that further increases in the OCR are needed in order to meet their mandate NZD has been marked higher on the announcement:
Long
by satyendrasatya48