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Nzdusdtrade

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 being BUY quite fast. It also affects the NZD very strongly. - Anyway, NZDUSD can continue to BUY until 0.6703 LEVEL.. After that, you can SELL at 0.6122 LEVEL.
by benny_marshall
NZD's double-bottom to foretell its next move?The Reserve Bank of New Zealand will deliver its second interest rate decision of 2023. The decision is release on Wednesday 2pm NZDT (Tuesday 8pm EST) What makes this interesting is that the country has just been hit by Cyclone Gabrielle which has reportedly caused more than NZ$12 billion worth of damage to infrastructure and private property. As such, some market watchers are predicting a pause in the RBNZ’s rate hikes (or a slowing), although the consensus is still for a 50-basis-points hike. With the uncertainty present in the market, the NZD/USD might look a little vulnerable ahead of this RBNZ decision. The NZD/USD is currently testing the support area created in January at 0.62249, which is crucial in predicting its next move. If the support area fails to hold, a short-term target includes 0.61648, and a long-term target includes 0.61000. NZD/USD is also below the 200-EMA, indicating a bearish trend. If the price manages to reject at the current support area, it may bounce to retest the 200-EMA period before continuing the downtrend. However, support holding up at 0.62249 would mean a double-bottom pattern formation, indicating, at least, a short-term bullish trend. For the reversal to have any momentum, the price needs to clear out the past consolidation area between 0.63523 and 0.63000, ultimately breaking the 0.63523 resistance area before continuing to the upside. Any upside to the NZD/USD might be capped by the strong economic data coming out of the US. Additionally, the US is closed for Presidents Day on Monday, perhaps causing some pent-up selling activity in the pair to eventuate on Wednesday NZDT/ Tuesday EST.
by BlackBull_Markets
#nzdusdIn the previous analysis, we obtained the desired targets very precisely. Now the strategy will be in the form of a range between 0.62000 and 0.65000. In the current situation, two strategies can be considered: 1- We are on a resistance in the area of 0.63330, and if we fail to break it, we can expect to touch the range of 0.63084 - after that, we have the floor dynamic line, which we can expect to decrease to the static range of 0.62757, which itself is in The role of a resistance is important. In the next stage, 0.62406 can be expected. 2- The second scenario, if it can break the ceiling of the above fluctuation range, it can experience growth or with a more accurate expectation of fluctuation or, in other words, a side-like range up to the resistance zone of 0.64008. The important point is that micro wave movement can move up to the ceiling of the above range and then move down. The confirmation of the strategy is determined by the ceiling and floor of the above swing area.
by maryammh
1
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 being BUY quite fast. It also affects the NZD very strongly. - Anyway, NZDUSD can sell further until it reaches 0.6416 LEVEL.. After that, it can go up to 0.6700 LEVEL. Keep an eye on STOCKS, COMMODITIES, VIX, DXY, MARKET SENTIMENT. Then we can get very good ENTRIES.
by benny_marshall