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NZD/USD jumps higher after recording 6-month low of 0.6824. NZD/USD plummeted to a fresh six-month low of 0.6824 earlier this morning, continuing the aggressive selling pressure that started after the pullback on the 0.7050 resistance level. Currently, the price is recovering from the low and trading slightly above its opening level but still below the 0.6850 resistance
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New Zealand will publish GDP figures on Thursday (Wednesday 2245 GMT) for the first quarter. Investors will be cautious for any clues as to whether the Reserve Bank of New Zealand (RBNZ) will raise or decrease interest rates. Economic growth is expected to have slowed down further in the first quarter of 2018. Analysts
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The central bank theme will continue into the coming week as it’s the turn of the Bank of England and the Swiss National Bank to set monetary policy. Oil and energy stocks will also come into focus as OPEC and Russia meet to discuss whether to relax the oil output
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NZD/USD stands in Bollinger Band with weak momentum; consolidating in near term. NZD/USD has been trading within a consolidation area over the last ten days with upper boundary the 0.7050 resistance level, which holds near with the upper boundary of the Bollinger Band, and lower boundary the 0.7000 handle, which coincides with the
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NZD/USD remains below the upper Bollinger Band but indicators suggest further gains. NZD/USD has struggled below the 0.7050 strong resistance level and touched the upper Bollinger Band, which stands near the 38.2% Fibonacci retracement level of the down-leg from 0.7395 to 0.6850. However, the technical indicators are sending bullish signals, suggesting that the
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NZD/USD holds near 3-week high above 0.7000; bulls take control. NZD/USD has surged to a new three-week high above the 0.7000 strong psychological level during today’s European session, pausing the downtrend. The technical indicators are sending bullish signals, suggesting that a bullish correction is in the process. From the technical point of view, in
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US economic data will return to the forefront next week, with the nonfarm payrolls report being the main focal point. The Bank of Canada will be the only major central bank holding a policy meeting, while Canadian GDP figures will keep the loonie under the limelight. The other highlights will
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NZD/USD still consolidating; unable to show strong momentum. NZD/USD remains under pressure as it has failed to create a significant movement either to the upside or downside. The price has been developing below 0.6974 and the 23.6% Fibonacci retracement level of 0.6978; as calculated in the down-leg from 0.7395 to 0.6850 since May 11. From the
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Euro looks to flash PMI for a bounce; Pound eyes UK CPI and retail sales data. As the US dollar continues to power ahead, the beleaguered euro and pound will be seeking for some reprieve from key economic indicators out of the Eurozone and the United Kingdom next week. With the US
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NZD/USD finds resistance near 40-SMA in 4-hour chart; bearish mode is in progress. NZD/USD has come under renewed selling pressure, falling below its 20-simple moving average (SMA) after the pullback on the 40-SMA in the 4-hour chart. Despite the latest bounce off, the pair has not posted a fresh lower low, yet,
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