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U.S. Dollar / New Zealand Dollar

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USDNZD trade ideas

NZDUSD to continue in the downward move?NZDUSD - 24h expiry Price action looks to be forming a bottom. A Doji style candle has been posted from the base. A higher correction is expected. The bias is still for lower levels and we look for any gains to be limited. Preferred trade is to sell into rallies. We look to Sell at 0.5704 (stop at 0.5736) Our profit targets will be 0.5623 and 0.5520 Resistance: 0.5705 / 0.5850 / 0.5960 Support: 0.5630 / 0.5520 / 0.5320 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
NZDUSD → The price could fall another 2.5%FX:NZDUSD is forming a return to a strong support zone after testing it after a year. Against the backdrop of a rising dollar, the chances of a support breakout are growing. The downtrend, rising dollar, weak fundamental background for NZD play a key role in forming a bear market. The price is testing the key resistance and trying to enter the selling zone. At the moment the price is restrained by the descending channel support and if the price manages to break this line and consolidate below, strong selling may be formed further, as there are no obstacles below it until 0.562. Resistance levels: 0.577, 0.5817 Support levels: 0.575, 0.562 I do not exclude the possibility of correction if the buyers hold the support. But there is no chance of a trend change. Another retest of the support may lead to a breakdown and further fall to 0.562 Regards R. Linda!
Short
by RLinda
2
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Long
by David_Perk
Elliott Wave View Expects NZDUSD to Extend LowerNZDUD decline from 10.1.2024 high is in progress as an impulse Elliott Wave structure. Down from 10.1.2024 high, wave 1 ended at 0.6049 and wave 2 rally ended at 0.6119. Pair then resumed lower in wave 3 towards 0.5813 and wave 4 ended at 0.5928. Currently wave 5 is in progress with internal subdivision as another impulse as the 1 hour chart below shows. Down from wave 4, wave ((i)) ended at 0.5801 and wave ((ii)) ended at 0.5888. Pair has resumed lower in wave ((iii)). Down from wave ((ii)), wave (i) ended at 0.5758 and rally in wave (ii) ended at 0.5817. Pair then nested lower with wave i ended at 0.575 and rally in wave ii ended at 0.5793. Expect wave iii lower to end soon, then it should bounce in wave iv before turning lower again in wave v of (iii). Near term, as far as pivot at 0.588 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.
by Elliottwave-Forecast
"NZDUSD: Room for Further Decline?"NZDUSD: Approaching a Critical Support Zone Amid a Strong Bearish Outlook The NZDUSD pair is gravitating towards a significant support zone that it last tested over a year ago. This return to familiar territory comes under the shadow of a strengthening US dollar, which continues to exert downward pressure on the pair. The growing momentum behind the dollar and New Zealand's lackluster economic fundamentals are intensifying the likelihood of a major support level breakdown, potentially paving the way for deeper declines. Bearish Momentum in Full Swing The broader downtrend in NZDUSD remains firmly intact, driven by several key factors: Rising Dollar Strength: The US dollar has been bolstered by robust macroeconomic data, tighter monetary policy signals, and increased demand as a safe-haven asset in a volatile global environment. Weak New Zealand Fundamentals: New Zealand’s economic landscape offers little support for its currency, with lower growth forecasts and subdued sentiment adding to the downside pressure. Technical Weakness: The price action clearly reflects sellers' dominance, with the pair facing persistent resistance while struggling to hold onto key support levels. Testing Key Zones: Resistance vs. Support The pair is currently navigating a critical battle between resistance and support levels. A detailed breakdown is as follows: Resistance Levels: The 0.577 and 0.5817 levels are acting as formidable barriers for any bullish attempts. Each time the price approaches these zones, selling pressure intensifies, capping upward momentum. Support Levels: On the downside, 0.575 serves as an immediate level of interest, while the next significant floor lies at 0.562. This lower support remains untested in recent months and could act as the next price magnet should the pair breach the current descending channel. Descending Channel in Focus The NZDUSD is confined within a well-defined descending channel, which has dictated price movements for several sessions. Currently, the lower boundary of this channel is acting as temporary support, holding the pair above critical levels. However, the technical picture suggests that any decisive break below this channel could trigger a cascade of sell orders, as there is minimal structural support below until 0.562. Scenario Analysis: What Lies Ahead? Bearish Breakout: If the descending channel support fails and the price consolidates below this level, we may see a rapid acceleration of the downtrend. In this scenario, sellers would likely push the price toward the 0.562 mark, with minimal obstacles in their path. Temporary Correction: While bearish sentiment dominates, a temporary corrective bounce cannot be ruled out. Should buyers manage to defend the current support zone, the price could revisit the resistance levels at 0.577 and possibly 0.5817. However, such a move would likely be limited to short-term retracements rather than a trend reversal. Support Retest and Breakdown: The most probable outcome remains a retest of the support zone. Given the current macroeconomic backdrop and technical setup, any subsequent breakdown of this support could trigger fresh selling, opening the door for a deeper slide to 0.562. Conclusion: Downtrend Unlikely to Reverse Despite the possibility of minor corrections, the overall picture for NZDUSD remains overwhelmingly bearish. The combination of a strengthening US dollar, weak fundamentals for the New Zealand dollar, and a bearish technical setup creates a perfect storm for continued downside pressure. Traders should keep a close eye on the support zone near 0.575 and the descending channel boundary. A decisive break below these levels would confirm the next phase of the downtrend, targeting 0.562 in the near term. On the other hand, a sustained bounce above current levels might offer a brief reprieve, though it is unlikely to signal a reversal of the prevailing bearish trend.
Short
by lonelyPlayer0
NZD/USD looking very bearish over the longer termLooking at the 6 month candlesticks, whereby each candlestick represents 6 months of price action, every time this pair has put in a bottom it has done so relatively quickly and started an uptrend. The past 4 years have been different though. It has been testing the .55 level since 2020. The Covid Rally was formidable but it came right back down in 2022 and has not caught a strong bid. This presents a bearish case in my opinion. If it were to put in a massive rally from here that would be very anomalous from a price action perspective. .55 doesn't offer as strong a historical support as .50(ish) does. If this pair trades down and breaks the 2020 lows it will quickly go to .50 with strong follow-through. Side note: are we really to ignore the massive multi decade head and shoulders pattern is has formed? I will not. This pair is headed down below .50 by next year sometime in my opinion.
Short
by ECMetts2112
2
NZDUSD Wave Analysis 18 December 2024 - NZDUSD broke long-term support level 0.5770 - Likely to fall to support level 0.5500 NZDUSD currency pair earlier broke below the long-term support level 0.5770 (which acted as the lower border of the weekly sideways price range inside which the pair has been trading from the start of 2023). The breakout of the support level 0.5770 accelerated the active impulse wave C of extended downward ABC correction (2) from last year. NZDUSD can be expected to fall further to the next support level 0.5500 (former multiyear low from 2022 and the target price for the completion of the active impulse wave C).
Short
by FxProGlobal
New Zealand slides after Fed rate cut, NZ GDP nextThe New Zealand dollar has declined sharply on Wednesday. In the North American session, NZD/USD is trading at 0.5685, down 1.2% on the day. The New Zealand dollar has been in freefall, plunging 11.6% since Oct. 1. New Zealand's economy is expected to contract in the third quarter by 0.4% q/q, after a 0.2% decline in Q2. If the economy  contracted for back-to-back quarters as expected, it would mean that the economy is in a technical recession.  Construction and manufacturing activity declined in the third quarter and a severe power crisis led to a decrease exports, all of which dampened GDP. The Reserve Bank of New Zealand slashed rates by 50 basis points last month, lowering the cash rate to 4.25%. The central bank has trimmed rates by 125 bp since August but the economy is clearly in need of further cuts. Inflation is back within the target of 1% to 3% and we can expect another cut at  the next meeting in February barring a surprise jump in inflation. There wasn't much excitement around today's Federal Reserve meeting, as the market had priced in a quarter-point cut at close to 100%. This is exactly what happened, as the Fed cut rates for a third time this year. The Fed signaled that it expected to cut rates only two times in 2025, lower than previous projections of four rate cuts. With the US economy in solid shape and the downswing in inflation stalled, the Fed can afford to take its time before the next rate cut. The market will hear from Fed Chair Powell shortly. Powell could reiterate that the Fed plans to cut rates "gradually", which means modest cuts of 25 basis points. NZD/USD is testing support at 0.5715. Next, there is support at 0.5665 There is resistance at 0.5801 and 0.5849
by OANDA
NZDUSD Shows a Complex Scenario Ahead of FED Interest Rate DecisNZDUSD Shows a Complex Scenario Ahead of FED Interest Rate Decision Today, NZDUSD presents a very complex scenario with potential moves in both directions ahead of the FED Interest Rate Decision. The FED is expected to cut rates by 25 bps to 4.5%. However, the main focus will be on Chair Powell's speech. Technical Analysis: The price is moving in a clear bearish trend, and during the last week, it began to contract. Currently, it is showing a bearish triangle pattern, but it could also be a reversal pattern. Therefore, we are looking for confirmation. A move below 0.5752 may push the price down to 0.5700, after which we could see the bullish wave resuming. Given that NZDUSD is in oversold conditions, the downside may be limited. If the price moves above 0.5785, it may rise to 0.5830, and if it holds, it may further rise to 0.5880. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
by KlejdiCuni
5
NZDUSD H1 Short At Market TP +100 pips🔸Hello traders, let's review the H1 chart for NZDUSD today. Price contained withing sliding bear channel previously rejected multiple times from overhead resistance. 🔸Currently expecting price to clear S/R and complete the break of structure pattern near 5820 then dump to 5750 / 5700. 🔸Previously rejected from overhead resistance, sequence of lower highs in progress and expecting yet another rejection into double top and also re-action with the bear channel. 🔸Recommended strategy for NZDUSD traders: short at market now, SL 40 pips TP1 +60 pips TP2 +100 pips final exit at 5750. good luck traders! 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
Short
by ProjectSyndicate
12