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NZD/USD runs significantly above the neckline of the bullish inverse head and shoulder formation it has created around the 10 ½-year low of 0.6202 on Monday. The short-term bias is now looking cautiously bullish as the price is currently fluctuating around the upper Bollinger band and the RSI is looking ready to pierce above its 70
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NZD/USD remains bullish; moves sideways around 23.6% Fibonacci. NZD/USD has found support from the 0.6400 level, which is the 23.6% Fibonacci retracement of the up leg from 0.6202 to 0.6464, sustaining the current sideways move between 0.6435 and 0.6390. The short-term oscillators suggest that positive momentum has dried up, something also backed
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NZD/USD skyrocketed overnight after the Reserve Bank of New Zealand surprisingly decided not to cut interest rates. The price stepped on the ascending trendline drawn from the October 1 troughs and overcame all its simple moving averages (SMAs) before stopping near the 23.6% Fibonacci of the up-leg from 0.6239 to 0.6464 and
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The latest employment numbers out of New Zealand will hit the markets late on Tuesday, at 21:45 GMT. This will be among the final data releases ahead of the RBNZ’s meeting next week, where market pricing currently assigns a 55% chance for a rate cut, so it may be crucial
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NZD/USD bulls breach the upper bound of Ichimoku cloud, eyeing 200-SMA. NZD/USD buyers pushed off the 100-period simple moving average (SMA) and above various obstacles moving out of the Ichimoku cloud. The recent rally looks to shift the bias by climbing above the 200-day SMA, despite an overall short-term neutral picture prevailing,
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NZD/USD maintains a bearish picture; gains halted. NZD/USD bulls reemerged, overtaking the resistance of 0.6268 and the 50-period simple moving average (SMA) on the four-hour chart. However, the rally which commenced on October 1 off a multi-year low of 0.6200 soon came to a halt at the lower boundary of the Ichimoku
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NZD/USD spiked above the 50-period simple moving average (SMA) in the four-hour chart following the interest rate announcement by the Reserve Bank of New Zealand early on Wednesday, but the bottom of the Ichimoku cloud proved tough to pierce, with the price pulling back. Technically, there might be some bullish momentum in
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The Reserve Bank of New Zealand will announce its latest policy decision on Wednesday at 2:00 GMT and after an aggressive cut at the last meeting, it is expected to stay on hold. Although some central banks have seen rate cut expectations recede somewhat during September, investors haven’t significantly altered
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NZD/USD still bearish, but forming a possible double bottom. NZD/USD bears are at the wheel and have steered the pair back on track with the medium-term negative picture. The price recovered on September 3, to hit a pothole at the 200-period simple moving average (SMA) on the four-hour chart, before the sellers
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NZD/USD runs out of steam after snapping 200-SMA. NZD/USD managed to tick above the 200-period simple moving average (SMA) in the four-hour chart for the first time since July but the bulls were soon rejected around 0.6449, with the price resuming its weekly neutral status. While the RSI is pushing efforts to
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