Get started

New Zealand Dollar / U.S. Dollar

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Economic Calendar

NZDUSD trade ideas

Technical Analysis: NZDUSD slumps on RBNZ, 200-DMA and 0.6130 reNZDUSD 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 support line from early March, close to 0.6130 by the press time, may challenge the pair sellers afterward. In a case where the NZDUSD remains bearish past 0.6130,s the yearly low marked in March around 0.6105 and the 0.6100 may act as the last force to stop the sellers. On the contrary, a two-week-old descending resistance line near 0.6305 restricts the immediate upside of the NZDUSD pair during any recovery. Following that, the monthly high of around 0.6385 and the 0.6400 round figure may prod the Kiwi pair buyers before directing them to the yearly high of around 0.6540, printed in February. Overall, NZDUSD is likely to decline further but the room towards the south appears limited.
by MTradingGlobal
NZDUSD bulls struggle to retake control as RBNZ week beginsNZDUSD 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 bulls. Even so, the stated key SMA and immediate support line, respectively near 0.6240 and 0.6210, can challenge the bears before giving them control. Following that, multiple lows marked around 0.6170-60 may rest the downside momentum ahead of highlighting a challenge for the April and May month bottoms, close to 0.6110 and 0.6085 in that order. Alternatively, a surprise hawkish move and the RBNZ’s restrain from pausing the rate hikes may fuel the NZDUSD price. In that case, a five-week-old horizontal support zone near 0.6315 may prod the Kiwi pair buyers. In a case where the pair remains firmer past 0.6315, the monthly high of around 0.6385 may prod the bulls ahead of highlighting the rush towards the yearly high marked in February around 0.6540. Overall, NZDUSD is likely to remain firmer unless any dovish surprise from RBNZ erupts.
by MTradingGlobal
NZDUSD recovery remains unimpressive below 200-SMAAfter defying a three-week losing streak, the NZDUSD pair grinds higher as traders brace for Wednesday’s New Zealand quarterly employment numbers. The quote currently pokes the 100-SMA barrier surrounding 0.6190 while also eyeing a one-month-old downward-sloping resistance line, close to 0.6205 by the press time. Given the bullish MACD signals, the Kiwi pair is likely to overcome the nearby hurdle. However, the RSI is close to the overbought territory and hence suggests limited upside room for the pair before hitting a roadblock, which in turn highlights the 200-SMA as the key resistance, close to 0.6220 by the press time. In a case where the Kiwi pair buyers manage to keep the reins past 0.6220, the odds of witnessing a run-up toward the mid-April high of around 0.6315 can’t be ruled out. Though, any further advances could challenge the yearly high marked in April around 0.6380. Meanwhile, pullback moves could gain attention on a downside break of the 0.6190-85 support zone comprising 100-SMA and the April 25 high. Following that, the NZDUSD pair can witness multiple supports near 0.6120 and 0.6100 round figure ahead of targeting the YTD bottom marked in March around 0.6085. It’s worth mentioning, however, that the quote’s weakness past 0.6085 can make the pair vulnerable to dropping toward the 0.6000 psychological magnet. Overall, NZDUSD is in a bearish consolidation mode ahead of crucial New Zealand data.
by MTradingGlobal
NZDUSD bulls eyes 0.6400 as RBNZ surprises marketsNZDUSD 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 approach overbought territory and hence a horizontal area comprising tops marked during early February, surrounding 0.6390, appears a tough nut to crack for the NZDUSD buyers. Also acting as an upside filter is the late January swing low near 0.6415, a break of which can propel prices towards the YTD high marked in February around 0.6540. Meanwhile, sellers need validation from the previous resistance line stretched from early March, around 0.6305, as well as the 0.6300 round figure, to retake control. Even so, a convergence of the stated channel’s bottom line and the 200-SMA, close to 0.6210, restricts the short-term NZDUSD downside. Also acting as immediate downside support is the 0.6200 round figure. In a case where the Kiwi pair remains bearish past 0.6200, the 0.6150 and 0.6130 levels mark probe the sellers before directing them to the yearly low of around 0.6085. Overall, NZDUSD suggests the continuation of a three-week-old zig-zag run-up unless the US data surprises traders.
by MTradingGlobal
Bes7aathis is just for me to basically keep track this is just for me to basically keep track this is just for me to basically keep track this is just for me to basically keep track this is just for me to basically keep track this is just for me to basically keep track this is just for me to basically keep track this is just for me to basically keep track this is just for me to basically keep track this is just for me to basically keep track this is just for me to basically keep track this is just for me to basically keep track this is just for me to basically keep track this is just for me to basically keep track this is just for me to basically keep track
Long
by ayman_aeh