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NZD/USD builds a base around SMAs; positive bias in the short-term. NZD/USD has reversed back up again following the pullback on the 23.6% Fibonacci retracement level of the up-leg from 0.6423 to 0.6968, around the 0.6835 support level. Currently, the price is testing the 20-day simple moving average (SMA) near 0.6873,
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Markets unconvinced by Trump-Xi trade rapprochement A major theme for global markets and the global economy is the uncertainty caused by the frictions between the United States and China. It was therefore an initially positive piece of news that the two countries would restart a new round of negotiations that would
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NZD/USD dives below 5-month peak; bearish correction in the near-term. NZD/USD has been underperforming in the past days, drifting lower from the five-month high of 0.6968 and below the 20- and 40-simple moving averages in the 4-hour chart. In the short term, technical indicators point to more weakness, with the RSI
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(adsbygoogle = window.adsbygoogle || []).push({ google_ad_client: "ca-pub-1126027167330222", enable_page_level_ads: true }); The coming week will be significant both in terms of data releases as well
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NZD/USD hovers near 5-month peak and has more room to run. NZD/USD advanced strongly yesterday, driving the market towards a fresh five-month high around 0.6885. Currently, the pair holds slightly below this peak, but the 20- and 40-simple moving averages are confirming the upside momentum as they recorded a bullish crossover in the 4-hour chart. Moreover, the
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European and world leaders’ summits preceding and concluding the upcoming week will be the most closely watched events as the market tone will be tied to how much progress is made with Brexit arrangements and in easing Sino-US trade tensions. The Federal Reserve will also be attracting plenty of attention
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NZD/USD edges lower but bullish sentiment remains in the short-term. NZD/USD has come under renewed selling pressure today, falling back below the downward sloping simple moving averages (SMA). Despite the latest pullback though, the index has not posted a session below 0.6780, which makes one hesitant to trust further declines for
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NZD/USD rallies to 4½-month high; positive sentiment in the near-term. NZD/USD recorded a fresh four-and-a-half month high of 0.6821 on Thursday and is set to create the third bullish day in a row. The price surpassed the 61.8% Fibonacci retracement level of the down-leg from 0.7060 to 0.6423, around 0.6818, suggesting that the
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NZD/USD hovers below 3-month high; bullish correction in the short-term. NZD/USD has been in a flying mode over the last six days after the rebound on the 0.6505 support level. The rally brought the price even higher, creating a strong upside correction mode, reaching a new three-month high around the 61.8%
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Following the RBA, the Reserve Bank of New Zealand (RBNZ) will be next to decide on monetary policy this week. Like their Australian counterparts, RBNZ policymakers are widely expected to leave interest rates unchanged on Wednesday at 1900 GMT under a fragile global trade environment and downbeat local business sentiment. The NZD/USD, however, could start
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