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AUDNZD

XM Research

XM Research - 5 months ago

What is next for commodity-linked currencies?

Risk linked currencies lose correlation to S&P 500 Dollar outperforms all as Fed implied rate path rises BoC abandons tightening bias, but RBA and RBNZ stay hawkish China impacts aussie and kiwi, loonie linked to oil prices Surrendering to the greenback’s dominance Just before the turn of the year, the risk-linked currencies - the Australian dollar, the New Zealand dollar, and the Canadian dollar - also known as the commodity-linked currencies, have come under selling pr
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XM Research - 1 year ago

Week Ahead – US CPI data, Fed minutes, and BoC decision on investors’ radar

Next week starts on a quiet note as Monday is Easter Monday for most economies on our radar. That said, the calendar becomes heavier as the days pass by, with the spotlight probably falling on the US CPI numbers for March, the minutes from the latest FOMC gathering, and the BoC decision. The US data will probably constitute another piece of information in the riddle of whether the Fed should hit the hike button one last time in May, while the BoC decision may reveal whether this will be the majo
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XM Research - 1 year ago

Daily Market Comment – Dollar extends slide as US job openings tumble

US job openings fall to the lowest since May 2021 Wall Street slips as data revives recession fears Gold rallies above $2,000 as Fed pivot bets intensify New Zealand dollar rallies after RBNZ hikes by 50bps Dollar extends losses as speculation about Fed rate cuts increases The dollar extended its losses against most of its major peers on Tuesday, with traders becoming split on whether the Fed will deliver another 25bps hike at its May meeting or not.
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XM Research - 2 years agoBearish

AUDNZD traded higher this week, after hitting support at the 200-day exponential moving average, slightly below the 1.1030 support, marked by Thursday’s low. That said, the pair remains below the prior uptrend line drawn from the low of November 22, while the 50-EMA appears to be the first line of defense for the bears. This keeps the case of another round of selling soon well on the table.
XM Research - 2 years ago

Will Q3 NZ inflation affect the hawkish RBNZ? – Forex News Preview

New Zealand’s CPI inflation readings for the third quarter will make headlines on Monday at 21:45 GMT. Estimates suggest that growth in consumer prices slowed down, though unlike its Australian peer, the RBNZ has poured cold water on dialing back plans for aggressive rate hikes. Nevertheless, some volatility in the kiwi cannot be ruled out if any surprises spark another debate about the size of the next rate hike.
XM Research - 3 years agoBearish

AUDNZD has been trending downwards since late-March when it peaked at 1.0945. Although the pair managed to post a moderate rebound after finding strong support at the 17-month low of 1.0277 in September, the price dipped down again, erasing most of the progress. In the last couple of sessions though, the bulls seem to be taking the upper hand. The short-term oscillators further confirm the positive immediate term bias, with the RSI surpassing the 50-neutral mark, while the stochastic oscillat
XM Research - 4 years agoBearish

Technical Analysis – AUDNZD reverses lower after reaching 2-year high

AUDNZD hit a two-year peak in August near 1.1140, but met fierce resistance and has been grinding lower since then. While the short-term picture seems negative, the broader uptrend that started in March remains in place as long as the price holds above 1.0565 and the 200-day simple moving average (SMA). Momentum-oscillators echo the cautiously negative picture in the short-run.
XM Research - 4 years agoBullish

Technical Analysis – AUDNZD gears up for another test of 2-year highs

AUDNZD jumped to a fresh 2-year high of 1.1040 earlier this week, though the pair encountered strong resistance near that area and subsequently pulled back. Now, the bulls have taken over again and the price seems to be headed for another test of that zone. A potential break above it would reinforce confidence in the uptrend. Short-term momentum oscillators on the four-hour chart are reflecting the latest spike higher.
XM Research - 4 years ago

Technical Analysis – AUDNZD set to confirm a bullish inverse head and shoulder pattern

AUDNZD is again desperately looking to break above the 1.0870 resistance area that has been holding for more than a year now. Slightly higher, the 23.6% Fibonacci retracement level of the 2011-2020 downtrend at 1.0883 is adding extra importance to the region as it looks to be the neckline of a bullish inverse head and shoulder pattern. Should the bulls breach that neckline, the rally may accelerate towards the 1.0970-1.1015 zone which has been a key barrier to upside movements during the 2017-20
XM Research - 4 years agoBullish

Technical Analysis – AUDNZD enjoys bullish debut after breaching key barrier

AUDNZD has finally risen above the 1.0437 area that kept the bulls under control since early December, surpassing its shorter-term moving averages (SMAs) and expanding into the Ichimoku cloud as well. The strengthening RSI and the improving MACD suggest that positive sentiment could stretch into the short-term, with the spotlight turning now to the 200-day SMA.

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