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NZD-USD

NZDUSD Outlook 6th April 2023The NZDUSD spiked up yesterday as the RBNZ surprised markets with a 50bps rate hike (the forecast was for 25bps). With the interest rates now at 5.25%, it is just 25bps shy of the peak rates of 5.50% previously indicated by the RBNZ. Following the spike up, the NZDUSD retraced the move to trade below 0.63 again (due to the overnight recovery of strength on the DXY). With the support level at 0.6270 coinciding with the 61.8% fib level, this could be a crucial level. A break of the support could see the NZDUSD trade lower to retest the 0.6240 price level (the upward trendline)
Short
by JinDao_Tai
NZDUSD reaches upper channel boundary, shows reversal signsThe NZDUSD has been trading within a channel since mid-March and has now reached the upper edge of the channel. It has shown signs of reversal towards the downside. I expect the price to respond and fall to around 0.623, where it will meet the 100-period moving average on the 4-hour timeframe and an ascending monthly trendline ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Short
by Candlestick_OB
NZDUSD Long Forecast| 31st March 2023Fundamental Backdrop 1. China's Purchasing Managers' Index (PMI) beat expectations, indicating that the economy is improving faster than expected 2. This can help further strengthen the NZDUSD because China is New Zealand's second-largest trading partner Technical Confluences 1. Price at the 0.62800 support level 2. Next major resistance at 0.63650 Idea With a medium bullish bias for NZD today, we could see price head up towards the next major resistance at 0.63650 NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab
NZDUSD Short Forecast | 30th March 2023Fundamental Backdrop 1. NZD Building Consents m/m, a leading gauge of future construction activity dropped from -5.2% to -9% 2. This can lead to lesser jobs and reduced construction services 3. NZD ANZ Business Confidence, a leading indicator of economic health dropped from -43.3 to -43.4 4. This could be an early signal of reduced future economic activity such as spending, hiring, and investment. Technical Confluences 1. Price reflected off the resistance at 0.62600 2. Near-term support at 0.61800 Idea With a medium bearish bias for NZD today, we could see price head down towards the near-term support at 0.61800 NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Short
by OlympusLab
NZDUSD Potential UpsidesHey Traders, in today's trading session we are monitoring NZUSD for a buying opportunity around 0.618 zone, NZDUSD is trading in an ascending channel in which it's approaching the channel support zone, once the rejection is confirmed i would consider the channel resistance as a target. fundamentally the last Fomc showed some dovish sentiments from fed which should be bearish Dollar and bullish stocks. stocks as well are positively correlated with NZDUSD. Trade safe, Joe.
Long
by JoeChampion
13
NZDUSD in positive channel.NZDUSD - 19h expiry - We look to Buy at 0.6205 (stop at 0.6165) Price action is located in bullish channel. Previous resistance located at 0.6300. Price action looks to be forming a bottom. A move through 0.6300 will confirm the bullish momentum. The trend of higher lows is located at 0.6190. Our profit targets will be 0.6305 and 0.6325 Resistance: 0.6300 / 0.6350 / 0.6400 Support: 0.6250 / 0.6200 / 0.6150 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
NZDUSD on an inverse H&S 🦐NZDUSD after our previous analysis reached the 0.61 support area. The price created a potential inverse Head & Shoulders pattern with 2 right shoulders that have higher lows. The pairs has now broken the neckline and some more buying pressure can be seen at the EU or US market open. How can i approach this scenario? I will wait for a potential test of the previous resistance, now turned support, and IF the price will satisfy the Plancton's strategy rules we will set a nice Long order.
by InkyGrip
4
NZDUSD: Head and Shoulders Pattern CompletedThe NZDUSD pair has completed a head and shoulders pattern on the daily timeframe, with two bullish engulfing candlestick patterns appearing in the last shoulder, indicating strong momentum pushing the price higher. On the 4-hour timeframe, we can see that the price has broken out of the downtrend and failed to make any lower lows, supporting our view that the price has reversed from a downtrend to an uptrend. However, the price needs to break above the neckline and resistance level at 0.62680, which it failed to do last week. Also, the 200-period moving average on the 4-hour timeframe may act as resistance. Therefore, we expect the price to dip slightly to the area between 0.62243 and 0.61925 before waiting for a buy signal to push the price towards 0.63550. If the price does not bounce off the support area and breaks above the neckline, that would be a signal to buy towards 0.63550. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Long
by Candlestick_OB
NZDUSD Potential UpsidesHey Traders, in today's trading session we are monitoring NZDUSD for a buying opportunity around 0.61800 zone, NZDUSD is trading in an uptrend and extending pullbacks seem to be approaching the major trend around 0.61800 support and resistance zone. Fundamentally we are coming across a big event today. Market is expecting fed to pivot which should be bearish for the Dollar but since now nothing is confirmed as we have to see the data. a dovish FOMC should be bearish for the Dollar and a hawkish one should be bullish. Trade safe. Joe.
Long
by JoeChampion
5
NZDUSD Outlook 20th March 2023As the DXY weakened, this saw the NZDUSD trade steadily higher, bouncing from the 0.6150 price level up toward the 0.6280 resistance level. The 0.6280 resistance level is crucial as it aligns with the 61.80% Fibonacci retracement level from the previous swing down. It is likely that the price could consolidate along this resistance level briefly, with a slight downside potential toward the price level of 0.6230. However, if the DXY continues to weaken, the NZDUSD could break above the immediate resistance level to trade significantly higher toward the next key resistance and round number level of 0.64. With no major news for the NZD on the horizon, the next directional bias of the NZDUSD is primarily dependent on the volatility of the DXY.
Long
by JinDao_Tai
NZDUSD:Approaching an important resistance zoneHey Traders, As DXY shows some strength i would love to consider Potential USD longs against commodity currencies like NZD, and as the stock market shows some downsides NZDUSD should be a perfect catch for the positive correlation between the two. Technically we have noticed that NZDUSD is approaching 0.627 supply and demand zone so i will be watching a potential reversal from the trend. in case the rejection is confirmed i would set 0.613 as a target as it's considered the next major support zone NZDUSD will be facing.
Short
by JoeChampion
10
NZDUSD Correction Nears CompletionThe NZDUSD pair is nearing the end of its corrective movement to retest the downtrend line from the 23.6% Fibonacci level, alongside the 100-period moving average on the 4-hour timeframe. I anticipate a bounce from this level, with the price heading towards 0.6150 as the first target and 0.6100 as the second target. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Short
by Candlestick_OB
NZD/USD Fundamental + Technical Macroeconomic Update | 3.14.23On Wednesday, the S&P/ASX 200 Index increased by 0.8%, going above 7,060. This rise was due to an increase in technology and banking stocks, following similar trends on Wall Street. Investors are hopeful that the worst is over from the collapse of Silicon Valley Bank and Signature Bank. Additionally, a US inflation report that matched expectations calmed the market, with investors betting on a smaller interest rate hike by the Federal Reserve next week. However, recent data shows that Australian consumer sentiment remains at historic lows due to concerns about inflation, interest rates, and the broader economy. Business sentiment also dropped to a three-month low in February. The technology sector was led by Computershare, Block Inc, and Xero, while the "Big Four" banks (CBA, ANZ Group, Westpac, and NAB) also saw gains.
Short
by TayFx
NZDUSD Potential UpsidesHey Traders, NZDUSD was trading in a downtrend, but after Friday's NFP NZDUSD managed to breakout the trend since NFP triggered some USD weakness. We still expect USD to be weak in the short term but remember this is just a part of the quiz as we still have to keep an eye on Tuesday CPI data to have more of a clear image about fed rate hikes expectations. a soft CPI will more likely push fed for a 25 bps rate hike and high CPI should indicate a rate hike of 50 bps and more of a restrictive monetary policy. Technically i will be watching a potential retrace around 0.61 supply and demand zone. Feel free to ask any question in the comment section. Trade safe, Joe.
Long
by JoeChampion
2
NZD/USD:Price will continue to Drop After NFP - SHORTInvestor anxiety ahead of the release of US Nonfarm Payrolls (NFP) data has caused the NZD/USD currency pair to fall below 0.6100. The USD Index has rebounded strongly, indicating a recovery in the risk-off sentiment after correcting near 105.13. An increase in the labor cost index could confirm Federal Reserve (Fed) Chair Jerome Powell's fears of persistent inflation and signal more aggressive rate hikes in the future. As the FX market awaits the NFP data, projections suggest that the US economy added 203K payrolls in February, while the unemployment rate is expected to remain unchanged at 3.4%. The Average Hourly Earnings data could potentially impact market sentiment. Higher wages offered by US firms due to a labor shortage are offsetting the impact of rate hikes from the Fed, and the labor cost index is expected to rise further to 4.7% from the previous release of 4.4%. On the New Zealand front, weak Consumer Price Index (CPI) data from China indicates that the expected recovery in domestic demand has not materialized despite reopening measures. New Zealand is one of China's major trading partners, and lower demand could weaken NZ exports and affect the New Zealand Dollar.
Short
by FOREXN1
3
A buy setup on NZDUSDHey Trader, I am looking to open a buy position on NZDUSD. On a Daily TF, Kiwi just made a retest to the previous support zone, after a long bearish momentum forming a tight descending wedge all along the way. Price broke above the upper band of the wedge and now making a fine turn back to retest an using the previous resistance as support (making the zone a MLoMS). The entry confirmation would come to play after the break of the current current flag pattern. (Setting a pending order would suffice in this type of entry). Keep Watching
Long
by Adefxc
3