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Nzdusdshort

NZDUSD in a selloff mode.NZDUSD - 24h expiry - We look to Sell at 0.6100 (stop at 0.6130) Previous support located at 0.6025. Previous resistance located at 0.6075. There is no indication that the selloff is coming to an end. A higher correction is expected. Risk/Reward would be poor to call a sell from current levels. A move through 0.6025 will confirm the bearish momentum. Our profit targets will be 0.6025 and 0.6000 Resistance: 0.6075 / 0.6100 / 0.6125 Support: 0.6025 / 0.6000 / 0.5975 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Short
by VantageMarkets
Market Over-Reacts? NZD tanks more than 2% The New Zealand dollar experienced a significant drop of over 2% on Wednesday, reaching its lowest level in more than three months at $0.6039. This decline followed the Reserve Bank of New Zealand's (RBNZ) expected decision to raise cash rates by 25 basis points to 5.5%. However, the central bank also hinted that it might conclude its tightening campaign, which likely contributed to the currency's decline. In more positive news, inflation expectations eased during the first quarter, dropping from 3.30% to 2.79%, potentially solidifying the RBNZ's choice to halt further rate hikes. Analyzing the 1-hour chart of the NZD/USD pair, it is evident that it broke below the previous swing low at 0.6111. However, the selling momentum may have started to weaken in the past hour, as indicated by the extreme oversold condition of the Relative Strength Index (RSI) and the pair's inability to close below 0.6100. The next target for a downward movement could be 0.6092, which seems to be the level where current sellers feel comfortable probing further. One potential explanation for this slowdown could be the release of the latest Federal Open Market Committee (FOMC) minutes. The minutes revealed a division among Federal Reserve officials during their previous meeting regarding the future direction of interest rates. Some members believed that further rate increases were necessary, while others anticipated a slowdown in economic growth that would negate the need for additional tightening measures. As a result, the committee decided to remove the phrase "additional policy firming may be appropriate" from its post-meeting statement. Market expectations currently indicate that the rate increase in May will be the final one in the current cycle. Furthermore, there is speculation that the Federal Reserve may reduce rates by approximately a quarter percentage point before the year's end. If this prediction holds true, it could be argued that the sharp decline in the New Zealand dollar is an overreaction.
by BlackBull_Markets
NZDUSD - CURRENT SITUATION AND TECHNICAL BIAS#NZDUSD - NZDUSD has been going UP very fast in recent days. The reason for that is because the VIX is down and the strength of the dollar is decreasing. Because of that, every NZD BASED CURRENCY PAIR was BUY. AUD, NZD, CAD, CURRENCIES BUY in these few days due to MARKET RISK ON again this week. For that, the influence of USD was very strong. Fomc update also affected it strongly this time. And RBNZ made a 50 bps RATE HIKE. Therefore, the NZD STRENGTH is increasing very much. - Thus, COMMODITIES are selling quite fast. It also affects the NZD very strongly. - Anyway, NZDUSD can continue to BUY until 0.6550 LEVEL.. Before that, you can SELL at 0.6246 LEVEL.
by benny_marshall
NZDUSD showing potential short position On February 2, 2023, the NZDUSD pair embarked on an impulsive move to the downside. Following this strong bearish activity, the pair entered into a consolidation phase that took on the form of a regular flat, which started on March 10, 2023. As of May 10, we've observed a significant breakdown outside of the flat correction pattern, indicating a likely continuation of the bearish trend. Furthermore, the price action is currently suggesting the formation of a bearish flag pattern, which traditionally signals a potential further downside. Considering these technical developments, there seems to be a viable short-selling opportunity at hand. If the bearish trend continues, our analysis suggests that the price could descend to at least the support level at 0.61181. However, as with all trades, it's crucial to remain vigilant for any signs of a trend reversal or deviation from the projected path.
Short
by SlowMobius12
NZDUSD to see a higher correction?NZDUSD - 24h expiry We expect a reversal in this move. Price action looks to be forming a top. A move through 0.6340 will confirm the bearish momentum. Momentum is flat, highlighting the lack of clear direction. The measured move target is 0.6250. We look to Sell a break of 0.6340 (stop at 0.6370) Our profit targets will be 0.6270 and 0.6250 Resistance: 0.6360 / 0.6370 / 0.6400 Support: 0.6340 / 0.6300 / 0.6250 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.
Short
by OANDA