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NZD/USD faces strong support at 0.6720; completes a 3-month low. NZD/USD reached a fresh three-month low of 0.6665 on Wednesday but it failed to end the day below the medium-term consolidation area with upper boundary the 0.6940 resistance and lower boundary the 0.6720 support. The pair remains slightly below the 200-day simple moving
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NZD/USD remains in consolidation area; stochastics suggest bullish bias. NZD/USD has been developing within a consolidation area over the last three months with an upper boundary the strong resistance level of 0.6940 and the support level of 0.6720. In the near term, the price rebounded on the 200-day SMA, posting three
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NZD/USD weakens the momentum; lacks clear direction. NZD/USD found strong obstacle at the short-term simple moving averages, driving the price beneath them. However, the pair is gaining some momentum, with the Stochastics returning to the upside and the MACD heading above the trigger line but still below the zero level, though
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NZD/USD tumbles to 2-week lows; uptrend line looks supportive. NZD/USD plunged by 1.5% and straight to a two-week low of 0.6792 early on Wednesday after an attempt to reach resistance around its previous peak of 0.6940. The October uptrend line drawn from the 32-month low of 0.6423 seems to be acting
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The Reserve Bank of New Zealand (RBNZ) is holding its policy meeting on Wednesday at 0100 GMT but once again policymakers are widely expected to stay on the sidelines over increasing evidence that a global growth slowdown may be in progress. Last week, Q4 GDP growth figures out of New Zealand arrived higher
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After a hectic week that saw the Fed officially abandon its rate-hike plans for this year and several developments in the Brexit saga, things could quiet down a little. The only major central bank to meet next week will be the Reserve Bank of New Zealand (RBNZ), while in the
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NZD/USD stood tall on Wednesday by almost 1% after trading flat over the past week. The pair stretched further its rally to new one-and-a-half-month highs on Thursday, but the bulls found a familiar barrier around 0.6940, with the Stochastics flagging an overbought market – the red %D line and the
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The next focal point for the kiwi dollar will be New Zealand’s GDP for Q4, due out on Wednesday at 21:45 GMT. Forecasts point to a pickup in growth, but even if that projection is met, it would still fall short of the RBNZ’s own forecasts. In isolation, this would
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NZD/USD latest rebound may stall in the short-term. NZD/USD corrected below two-week lows after the RSI reached overbought territory, with the price launching slightly above the 50-period moving average in the four-hour chart on Thursday. On Friday the market resumed bullish momentum, but with the RSI reversing towards its 50 neutral
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NZD/USD develops in a narrow range; SMAs follow a bearish move. NZD/USD continues to lose momentum after the strong pullback on the 0.6900 level, which drove the pair beneath the 20- and 40-simple moving averages (SMAs) as well as below0.6795, the 38.2% Fibonacci retracement level of the up leg from 0.6560
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