NZD/USD Main Trend Next Week – BullishNZD/USD news:
🔆BBH FX analysts report that Reserve Bank of New Zealand (RBNZ) Chief Economist Paul Conway has reaffirmed the bank’s policy stance. His comments did not have much impact on the NZD, as he pointed out that the RBNZ’s updated Official Cash Rate (OCR) forecasts show a total of 75 basis points of rate cuts over the next year.
🔆However, he stressed that lowering the OCR below the neutral level (around 3%) is not the bank’s primary expectation. Conway also noted that the depreciation of the New Zealand dollar is contributing to an expected economic recovery in late 2024 or 2025.
🔆The weaker NZD has helped boost exports and reduce the country’s merchandise trade deficit, which narrowed to a more than three-year low of -NZ$7.2 billion in January from -NZ$7.8 billion in December.
🔆Investors, meanwhile, are closely watching New Zealand’s quarterly retail sales data, a key indicator of consumer spending that tends to have a big impact on markets;
Personal opinion:
🔆The NZD remains in an uptrend, outperforming the US Dollar as US President D. Trump's increasingly unpredictable tariff policies keep investors on edge.
Technical analysis:
🔆The NZD/USD pair is in a bearish phase and is expected to recover after finding strong support from the SMA50 and the rising trend line. Combine with important Fibonacci levels to come up with a suitable strategy.
Plan:
🔆 Price Zone Setup:
👉Buy NZD/USD 0.5730 – 0.5700
❌SL: 0.5660 | ✅TP: 0.5770 – 0.5800 – 0.5880
FM wishes you a successful trading day 💰💰💰
