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New Zealand Dollar / U.S. Dollar

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NZDUSD trade ideas

key target levels including the NZDUSDThe GBPUSD, EURUSD, and USDJPY have all stretched to key targets today as the USD got hit. However, after reaching those target there has been some modest profit taking/selling/buying (dependent on the direction of the pair). The NZDUSD is also in that boat as it returned to the 200 bar MA on the 4-hour chart a 0.61255. As the clock ticks to the end of the week, traders seem to be leaning. That might not be great for traders riding the USD selling but what it does, is sets the levels going into the new week. If the price can break next week, look for more momentum on the break. If not, look for more USD upside probing to start the trading week. But it is clear.....Traders are taking a little off the table after the USD run lower today. Find out about it in the video above.
Long
by FXBANkthe8055
RBNZ’s dovish halt, downbeat China CPI weigh on NZDUSD Early Wednesday, NZDUSD prints the biggest daily fall in a fortnight on the Reserve Bank of New Zealand’s (RBNZ) dovish halt, as well as a softer print of China’s Consumer Price Index (CPI) for June. That said, the RBNZ matched market expectations for holding the benchmark rate unchanged but showed readiness to welcome easy monetary policy if inflation slows further. On the other hand, China's CPI dropped to -0.2% MoM and 0.2% YoY in June versus -0.1% and 0.4% market expectations, from -0.1% and 0.3% in that order. With this, NZDUSD drops more than 0.50% on a day as sellers attack the 200-SMA support of 0.6076. Adjacent to that is strong technical support comprising the 100-SMA and an 11-week-old rising support line, close to 0.6065 by the press time. In a case where the Kiwi pair prints a daily closing beneath 0.6065, a slew of peaks and troughs surrounding 0.6040-35 will test the sellers before directing them to the 0.6000 psychological magnet. Meanwhile, an impending bull cross on the MACD and downbeat RSI joins the key supports to signal the NZDUSD pair’s corrective bounce, which in turn highlights a three-week-long horizontal resistance area near 0.6150-55. Should the Kiwi pair manage to cross the immediate upside hurdle, the 61.8% Fibonacci ratio of the quote’s fall from December 2023 to April 2024, near 0.6175, will precede a six-month-old horizontal resistance zone around 0.6215-22 to act as the final defenses of the bears. Overall, NZDUSD is likely to witness a corrective bounce but the recovery remains doubtful below 0.6222.
by MTradingGlobal
NZD/USD Market Analysis (15 Minutes) 09-JulCurrent Market Structure: M15 NZD/USD chart shows a clear bearish structure with a (BOS) at 0.6120. After the BOS occurred, the price recovered and is currently trading near an important supply zone. Entry Points: Short entry point would be at the supply zone between 0.6120 and 0.6130. This is the area where strong selling pressure has appeared before and is likely to continue to create resistance when the price returns. Exit Points: - Take Profit: The take profit point should be placed at the demand zone on the H1 chart, around 0.6080. This is an area where strong buying pressure has appeared before and may create support when the price drops. - Stop Loss: The stop loss should be placed above the supply zone, around 0.6140. This is to protect against unexpected fluctuations and minimize risks. Recommendations: - Trading Recommendations: With the current market structure, the recommended trading strategy is to enter a short order in the supply zone (0.6120 - 0.6130), set a stop loss at 0.6140 and take profit at 0.6080. - Note: Always adhere to the risk management principle, only trade with the volume appropriate to your account. Closely monitor price action to be able to adjust the strategy in time. Wish you successful trading and always achieve stable profits!
Short
by JohnnyTranFx
NZDUSD SHORT 1H TIMEFRAMEFOREXCOM:NZDUSD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Short
by Phinics
NZDUSD jumps on RBNZ’s hawkish halt, 0.6140-45 hurdle tests bullNZDUSD prints the biggest daily jump in more than a week, as well as snaps a two-day losing streak, on the Reserve Bank of New Zealand’s (RBNZ) hawkish halt. That said, the RBNZ held the benchmark rates unchanged, as expected, but upwardly revised the forward rate guidance. The same pushed back the rate cut and signaled expectations of a rate hike during the year. As a result, the Kiwi pair rallied to the 2.5-month high after the RBNZ announcements before retreating from 0.6152, up more than half a percent intraday by the press time. In addition to the hawkish RBNZ concerns, the NZDUSD pair’s successful trading beyond the previous resistance line stretched from late December 2023, bullish MACD signals and the upbeat RSI (14) line also keeps the buyers hopeful. However, a daily closing beyond a downward-sloping resistance line from January, near 0.6140 by the press time, becomes necessary for trading conviction. Adjacent to the 0.6140 hurdle is the previous weekly high and 38.2% Fibonacci retracement of the quote’s late 2023 upside, near 0.6145. Hence, the bulls need validation from 0.6140-45 to keep the reins. Following that, the double tops marked in February and March around 0.6220 and 23.6% Fibonacci ratio near 0.6230, followed by the 0.6280-85 resistance region, will become the upside targets. On the contrary, a convergence of the 200-bar Exponential Moving Average (EMA) and a three-week-old rising trend line, around 0.6075-70 at the latest, restricts the NZDUSD pair’s short-term downside ahead of the previously stated resistance-turned-support line near 0.6060. In a case where the Kiwi pair remains bearish past 0.6060, the 61.8% Fibonacci retracement level near the 0.6000 threshold, will act as the final defense of the bears before directing the prices toward the yearly low of near 0.5850. Overall, the Kiwi pair is likely to remain firmer unless declining back beneath the 0.6060 level. However, fresh buying should wait for a clear upside break of 0.6145.
by MTradingGlobal
NZDUSD grinds higher past 0.6000 ahead of RBNZ, US InflationNZDUSD remains positive around 0.6035-40 early Tuesday, despite lacking upside momentum of late. In doing so, the Kiwi pair defends the previous week’s rebound from the lowest level since November 2023 while portraying the trader’s anxiety ahead of Wednesday’s monetary policy announcements from the Reserve Bank of New Zealand (RBNZ) and the US inflation data, namely the Consumer Price Index (CPI). It should be noted that the recovery in price takes the support of the upbeat RSI (14) conditions and the bullish MACD signals, which in turn suggests brighter chances of the quote’s further advances. However, the 200-SMA and a five-month-old previous support line, respectively near 0.6070 and 0.6115, appear tough nuts to crack for the bulls. In a case where the buyers manage to keep the reins past 0.6115, the odds of witnessing a gradual run-up toward a four-month-old horizontal resistance area surrounding 0.6220 can’t be ruled out. Meanwhile, the 61.8% Fibonacci retracement of the quote’s October-November upside, close to the 0.6000 psychological magnet, restricts the immediate downside of the NZDUSD pair. Following that, the aforementioned horizontal area comprising lows marked since mid-November 2023, near 0.5940, will be the key challenge for the Kiwi pair sellers to pass before retaking control. Should the pair remain bearish past 0.5940, the November 14 low of around 0.5860 will act as the final defense of the buyers before driving prices down to the previous yearly bottom of 0.5773. Overall, the NZDUSD pair is likely to extend the latest rebound ahead of the RBNZ and the US CPI, unless the output of the data/events suggests otherwise.
by MTradingGlobal