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NZD/USD declines considerably; negative to a neutral outlook. NZD/USD has aggressively reversed back to the downside, dropping below the 23.6% Fibonacci retracement level of the up leg from 0.6423 to 0.6970, around 0.6840, and the mid-level of the Bollinger Band currently at 0.6830. Momentum indicators are pointing to a negative bias in the
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Both the Australian and New Zealand dollars have seen the wind leave their sails lately, amid mounting speculation that their respective central banks will cut rates soon, and as investors started having second thoughts about a US-China trade deal. Examining the landscape for each economy, the case for looser policy
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NZD/USD records the strongest rally in three months. NZD/USD jumped with full force early on Wednesday after finding support at the top of the Ichimoku cloud as stochastics entered oversold territory below 20. The RSI is positively sloped slightly above its 50 neutral level, a sign that positive momentum may stay in place
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The Reserve Bank of New Zealand (RBNZ) will conclude its policy meeting on Wednesday, at 0100 GMT. Governor Orr will hold a press conference an hour later. In the wake of some disappointing employment data, traders have sharply ramped up their bets for a rate cut this year. While the
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Japan and the United Kingdom will be next to publish economic growth numbers for the final quarter of 2018, while the Eurozone will release its second GDP estimate for the period. Inflation data out of the US and the UK will also be watched. The Reserve Bank of New Zealand
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NZD/USD erases bearish rally below an upward channel; posts 2-week bottom. NZD/USD plummeted below the upward sloping channel during yesterday’s session, which had been holding over the last month, creating a fresh two-week low near 0.6743. Currently, the price is easing slightly to the upside around the 50.0% Fibonacci retracement level of the up leg from
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Employment data out of New Zealand will be watched on Thursday (Wednesday, 21:45 GMT) as investors try to gauge the Reserve Bank of New Zealand’s next move ahead of the central bank’s policy meeting the following week. Recent economic indicators from the country have been showing an improving trend, lessening
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The Bank of England and the Reserve Bank of Australia will be next in the central bank world to set monetary policy amid rising risks and uncertainty about the outlook. It will be relatively quiet on the data front as Chinese markets will be shut for the whole week for
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NZD/USD advances to fresh 7-week highs; bullish but almost overbought. NZD/USD recorded three green days in a row to reach a seven-week high of 0.6937 on Thursday. On Friday, the pair is trading slightly weaker, with the RSI indicating that room for improvement is limited as the indicator seems to be
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NZD/USD reaches an 8-week high near the upper boundary of the bullish channel. NZD/USD continues to rise above the 50.0% Fibonacci retracement level of the downward movement from 0.7390 to 0.6423, around 0.6910, remaining inside a bullishly aligned channel, stretching its upward pattern to a fresh seven-week high of 0.6923. According to the MACD,
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