NZD news

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NZD/USD Recovers Back Above 2016 High

NZD/USD recovered in European trading following an early day dip below the 2016 high of 0.7485. The pair was driven by a weaker dollar as the greenback declined against all of its major counterparts with the exception of the Swiss franc.

NZD/USD made a failed break above 0.7530 resistance, a respected level on a weekly chart, on Thursday which resulted in a bearish reversal candlestick pattern on a daily chart. The pair found some support today slightly ahead of last weeks high and was last seen trading 0.31% higher on the day.

NZD/USD Remains Confined Within a Range Ahead Of Jobs Report

NZD/USD has been trading in a range since Thursday but a break below a rising trendline is hinting of a turn lower. The pair has seen buyers slightly ahead of 0.7458 support while a recovery in the North American session saw sellers protecting the broken trendline on a retest.

The pair has struggled to gain past the 0.7520 area while buyers have lifted the pair higher from around 0.7460. Support at 0.7458 marks a high posted on July 21st.

NZD/USD Breaks Higher From Range Following RBNZ Statement

The RBNZ statement triggered a break higher from a range that had been playing out in NZD/USD since late yesterday. The pair broke above range resistance around 0.7338 but gains have been marginal thus far and the RBNZ press conference, scheduled at 18:00 EST will ultimately drive the currency pair.

NZD/USD found support on Wednesday at 0.7311 and held above the level throughout the day which led to a doji print on a daily chart to snap a prior three-day losing streak.

NZD/USD Fails To Hold Above Key Horizontal Level

NZD/USD fell under pressure today to give back about 40% of Friday’s gains. The pair has fallen back below an important horizontal level and remains confined within a declining trend channel that dates back to a high posted at the end of July.

A horizontal level at 0.7311 is significant on a weekly chart and acted as resistance on several attempts since mid-2016. The pair managed to break above it on Friday to hold the level on a weekly basis but is seen declining below it today.

NZD/USD dips below 200-hour EMA

NZD/USD dips below 200-hour EMA, Asian markets sell risk

- The NZD/USD is down 0.32 percent in Asia, while the S&P 500 futures are reporting a 0.48 percent drop.
- The USD is on the rise against most majors as the USD/CNH remains bid, despite the rally in the Chinese stocks.

The NZD/USD pair is feeling the pull of gravity in Asia, courtesy of the risk aversion in the equities and weakness in the Chinese yuan.

At press time, the pair is trading at the session low of 0.6543 - down 0.32 percent on the day - having registered a 0.86 percent drop yesterday.

The losses the NZD and other risk currencies are likely associated with the dark mood in the equities. For instance, the S&P 500 futures are down 0.42 percent at press time. Further, Japan's Topix is down 1 percent and Australia's S&P /ASX 200 has shed 0.6 percent.

Meanwhile, the losses in Chinese yuan could be adding to the bearish pressure around the NZD/USD pair. Moreover, the risk-on rally in the Chinese stocks has not translated into CNY (or CNH) strength, leaving the USD/CNH (offshore yuan exchange rate) on the path toward the major psychological hurdle of 7.00.

Should the CNY witness a sudden reversal in fortunes, then the NZD and other risk currencies will likely pick up a strong bid.

NZD/USD Technical Levels

Resistance: 0.6562 (50% Fib R of 0.67/0.6424), 0.6594 (61.8% Fib R of 0.67/0.6424), 0.6599 (50-day EMA)

Support: 0.6538 (38.2% Fib R of 0.6424/0.6611), 0.6523 (Oct. 19 low), 0.65 (psychological level)

Source: https://www.fxstreet.com/news/nzd-usd-d ... 1810230145
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NZD/USD Technical Analysis: bullish bias, eyes 0.68

NZD/USD Technical Analysis: bullish bias, eyes 0.68
  • The NZD/USD is currently trading at 0.6770, having clocked a low of 0.6754 earlier today.
  • The pair has charted higher lows and higher highs pattern in the last 24 hours, adding credence to the falling channel witnessed yesterday.
  • The stacking order of the 50-hour exponential moving average (EMA), above the 100-hour EMA, above the 200-hour EMA indicates the path of least resistance is on the higher side.
  • The 14-hour relative strength index is also reporting bullish conditions above 50.00.
  • The spot looks set to test the psychological hurdle of 0.68 in a day or two. The bullish setup would be invalidated if the spot dips below 0.6734, violating the higher low setup.

NZD_USD (42)-636777605283164349.png

Trend: Bullish

Last Price: 0.677
Daily change: 13 pips
Daily change: 0.192%
Daily Open: 0.6757
Daily SMA20: 0.6617
Daily SMA50: 0.6586
Daily SMA100: 0.6655
Daily SMA200: 0.6898
Daily High: 0.6768
Daily Low: 0.6708
Weekly High: 0.682
Weekly Low: 0.6632
Monthly High: 0.663
Monthly Low: 0.6424
Daily Fibonacci 38.2%: 0.6745
Daily Fibonacci 61.8%: 0.6731
Daily Pivot Point S1: 0.672
Daily Pivot Point S2: 0.6683
Daily Pivot Point S3: 0.6659
Daily Pivot Point R1: 0.6781
Daily Pivot Point R2: 0.6805
Daily Pivot Point R3: 0.6842
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NZDUSD Technical Analysis: Head-and-shoulders breakdown confirmed

NZD/USD Technical Analysis: Head-and-shoulders breakdown confirmed

  • The American dollar found love in the overnight trade after the Fed signaled that rates could be hiked two times in 2019, dashing hopes of a pause.
  • The NZD/USD pair fell below 0.6784, confirming a head-and-shoulders breakdown on the 4-hour chart. The bearish reversal pattern indicates the rally from the Oct. 8 low of 0.6424 has ended and the bears have likely regained control. Notably, the pattern has opened the doors for a drop to 0.66 (target as per the measured move method).
  • Further evidence that bears are in a commanding position is the 14-day relative strength index (RSI) of 43.00 and the downward sloping 5- and 10-day simple moving averages (SMAs).
  • The bearish pressure would wane if the pair unexpectedly moves back above the 10-day SMA, currently at 0.6828.

4-Hour Chart
NZDUSD H4 (12-20-2018 0702)-636808663569978954.png

Trend: bearish

Today Last Price: 0.6778
Today Daily change: -17 pips
Today Daily change %: -0.250%
Today Daily Open: 0.6795

Previous Daily SMA20: 0.6849
Previous Daily SMA50: 0.6729
Previous Daily SMA100: 0.667
Previous Daily SMA200: 0.6841

Previous Daily High: 0.6871
Previous Daily Low: 0.6783
Previous Weekly High: 0.6912
Previous Weekly Low: 0.6778
Previous Monthly High: 0.6887
Previous Monthly Low: 0.6514
Previous Daily Fibonacci 38.2%: 0.6817
Previous Daily Fibonacci 61.8%: 0.6837
Previous Daily Pivot Point S1: 0.6761
Previous Daily Pivot Point S2: 0.6728
Previous Daily Pivot Point S3: 0.6673
Previous Daily Pivot Point R1: 0.6849
Previous Daily Pivot Point R2: 0.6904
Previous Daily Pivot Point R3: 0.6937

Source: https://www.fxstreet.com/news/nzd-usd-t ... 1812200133
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NZDUSD Technical Analysis: Selling interest in progress; hits one-week low

NZDUSD selling interest in progress; hits one-week low


NZDUSD is continuing this week’s sell off with strong momentum, reaching a one-week low around 0.6730 and at the same time confirming the start of a bearish movement. The short-term bias looks negative as the MACD keeps losing ground below its red trigger line, while the RSI seems to be making its way down beneath its 50 neutral mark, moving towards the oversold territory.

The 0.6705 could be a critical level for steeper bearish actions if the pair continues the negative tendency. Also, the 0.6670 could attract some attention, taken from the low on January 4, while a significant leg below this hurdle could open the door for the next support of 0.6610.

However, if the pair reverses back to the upside and rise above 0.6752, investors could make a pause at the 40- and then at the 20-simple moving averages (SMAs) around the 0.6800 handle. If the price continues to extend gains, resistance could come next somewhere near the latest high of 0.6847.

Overall, kiwi/dollar has reversed back to the downside in the 4-hour chart, slipping below the SMAs, which are ready to post a bearish cross in the near future.

Source: https://www.xm.com/technical-analysis-n ... -low-94413
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