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Nzdusdlong

How much longer can the kiwi sell off? How much longer can the kiwi sell off? On Wednesday, the Reserve Bank of New Zealand opted to maintain interest rates, coupling this decision with dovish remarks and forward guidance. Danske Bank economists anticipate a continued decline in NZD/USD in the upcoming year, setting a 12-month target at 0.5700. They think that the RBNZ contrasts with other G10 central banks which are apparently eyeing the start of their respective rate cutting cycles (which might be news to you, considering most expectations for rate cuts from other central banks are repeatedly being pushed back). Nevertheless, this sentiment led to a significant decline in the New Zealand dollar over the past two days, although it seems to be trying to find support. The 100 and 200-day simple moving averages emerge as notable hurdles for bearish sentiment on the daily chart. On the 4-hour chart, the next support level following these moving averages is at 0.6050, a critical level that previously served as resistance in October last year. Sustaining levels above 0.6070 could help sustain a positive outlook with the next target possibly around 0.6140, supported by signals from the RSI.
by BlackBull_Markets
25% chance of RBNZ rate hike on Tues?25% chance of RBNZ rate hike on Tues? The Reserve Bank of New Zealand (RBNZ) is likely to maintain its interest rate at the existing 5.50%, yet there might be a notable 25% probability of a 25-basis points hike. Why? In part, the RBNZ provided a hawkish signal post its recent meeting. The RBNZ's forward guidance suggests an inclination towards future hikes, with the March 2024 outlook adjusted to 5.63%, and December 2024 elevated to 5.66%. ANZ Bank goes a step further, forecasting consecutive rate hikes until April, culminating in a 6.00% OCR. NZ Bank stands alone in predicting a rate hike, the consensus among other market economists leans heavily towards maintaining the status quo. KiwiBank economists share the consensus view that the RBNZ will likely keep the interest rates unchanged. However, they anticipate a continuation of strong language and a “very forceful, hawkish bias,” A Reuters survey resulted in 27 out of 28 economists foreseeing no change. Still, these disparities in predictions highlight the uncertainty surrounding the impending decision and the potential for a significant market reaction depending on the central bank's course of action as well as the language they use to deliver the news. The RBNZ delivers its decision on Tuesday 9:00 pm (US time, UTC -5).
by BlackBull_Markets
NZD/USD will go under 0.600 soonHello Traders It seems NZD/USD is going to make a diagonal correction. it is possible, since we are bullish on USD. so we are expecting the price will reach 0.60 and 0.595 levels eventually. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Short
by FortunaInvestments
NZDUSD BUY | Day Trading AnalysisHello Traders, here is the full analysis. The completed correction, recovery and formation of a pre-breakout set-up hint at the continuation of growth. GOOD LUCK! Great BUY opportunity NZDUSD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗
Long
by TheGrove
3
NZDUSD Analysis(➡️RR=2.00)🏃 NZDUSD is moving near a 🟢 Heavy Support zone($0.6110-$0.6050) 🟢. 📈Regarding Classic Technical Analysis , it seems that NZDUSD has succeeded in forming a Double-Bottom Pattern , and we are currently witnessing a pullback to the Neckline . 🌊In terms of Elliott wave theory , NZDUSD seems to have completed 5 impulsive waves and is currently completing corrective waves . 🌊Most likely, the structure of correction waves is Double Three Correction(WXY) . 🔔I expect the NZDUSD to rise to at least the 🔴 Resistance zone($0.6220-$0.6178) 🔴 again after the pullback completes. New Zealand Dollar/U.S.Dollar Analyze ( NZDUSD ), 15-minute Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
7