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NZDUSD

XM Research

XM Research - 1 day agoBearish

Technical Analysis – NZDUSD meets support at 38.2% Fibo

NZDUSD is in a steady decline since early June Completion of golden cross fails to trigger a recovery Oscillators are tilted to the bearish side NZDUSD had been in an aggressive uptrend following its 2024 bottom of 0.5851 in mid-April, surging to a six-month high of 0.6220 in June. However, the pair has come under severe selling pressure since then, with the 200-day simple moving average (SMA) preventing further declines for now.
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XM Research - 6 days ago

Technical Analysis – NZDUSD struggles to fall beneath 200-day SMA

NZDUSD holds in downside move after pullback off 3-month high Momentum oscillators head south NZDUSD is battling with the 50- and the 200-day simple moving averages (SMAs) in the daily chart, holding slightly below the previous bottom of 0.6080. Technically, the RSI indicator is falling from the 50 level and is pointing down, while the MACD is flirting with the zero level.
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XM Research - 6 days ago

Week Ahead – French and UK elections on the horizon, US jobs report eyed too

France and UK go to the polls; will elections bring chaos or order? US payrolls report for June awaited as Fed hawks don’t budge Eurozone CPI, Fed minutes and ECB forum also on investors’ radar Macron’s gamble set to backfire Political risks came back to haunt the euro in June as the resurgence in popularity for far-right parties sparked jitters in financial markets.
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XM Research - 6 days ago

Market Comment – Core PCE in focus ahead of French elections

Dollar gains after first presidential debate Focus today turns to core PCE inflation Yen slides, intervention risks rise French citizens head to the ballots on Sunday Trump election win bets support dollar The US dollar traded slightly lower against most of its major peers on Thursday, extending gains only against the yen and the franc.
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XM Research - 2 weeks agoNeutral

Technical Analysis – NZDUSD erases GDP-led pickup

NZDUSD rises temporarily after slight GDP growth surprise Bulls remain capped below 20-SMA; key support at 0.6085-0.6095   Early Thursday data revealed that the New Zealand economy experienced slightly faster growth than anticipated in Q1. However, NZDUSD rose only a few pips to 0.6164, which were swiftly erased. The bears couldn’t push past the 20-day SMA at 0.6145 for the fourth consecutive day, leading to worries that the pause in the short-term uptrend could lead to a downwa
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XM Research - 3 weeks ago

Week Ahead – RBA, SNB and BoE next to decide, CPI and PMI data also on tap

It will be another central-bank-heavy week with the RBA, SNB and BoE None are expected to cut but there’s room for surprises Retail sales will be the highlight in the United States Plenty of other data also on the way, including flash PMIs and UK CPI RBA is in a pickle The Reserve Bank of Australia will keep the central bank theme going on Tuesday when it meets for its June policy decision.
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XM Research - 3 weeks agoBullish

Technical Analysis – NZDUSD recoups post-NFP slide

NZDUSD surges to its highest since March 8 But undergoes a setback after strong NFP report Oscillators ease but remain in positive zones NZDUSD has been in an aggressive uptrend following its 2024 bottom of 0.5851 in mid-April, posting a fresh three-month high last week. Although the pair came under severe selling pressure on Friday due to a stronger-than-expected NFP report, it has been trying to erase its losses in the past couple of sessions.
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XM Research - 4 weeks ago

Technical Analysis – NZDUSD erases today’s jump at 3-month peak

NZDUSD holds above steep rising line RSI and MACD show contradicting signals NZDUSD posted a bullish spike earlier today towards a new three-month high around 0.6215. The pair is creating a steep upside tendency in the short-term timeframe after the strong pullback at the five-month low of 0.5850. Technically, the momentum oscillators are showing some mixed signs.
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XM Research - 4 weeks agoBullish

Technical Analysis – NZDUSD extends recovery to fresh highs

NZDUSD posts an almost 3-month high on Tuesday But the risk of an impending correction increases Oscillators approach overbought conditions NZDUSD has been in an aggressive uptrend following its 2024 bottom of 0.5851 in mid-April. On Tuesday, the pair stormed to its highest level since March 8 before sustaining minor losses probably due to some profit taking.
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XM Research - 1 month agoBullish

Technical Analysis – NZDUSD pauses advance at 61.8% Fibonacci

NZDUSD stages a solid recovery from its 2024 lows Posts a two-month high and challenges 61.8% Fibo Oscillators point to persistent bullish pressures   NZDUSD has been in an aggressive uptrend after recording a 2024 bottom of 0.5851 in mid-April. The positive short-term picture is reinforced by the fact that the pair broke above both its 50- and 200-day simple moving averages (SMAs), while the momentum indicators are also heavily tilted to the upside.
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XM Research - 1 month ago

Week Ahead – US PCE inflation and Eurozone CPI data enter the spotlight

Dollar traders lock gaze on core PCE index Eurozone CPIs in focus as June cut looms Tokyo CPIs may complicate BoJ’s policy plans Aussie awaits Australian CPIs and Chinese PMIs   Will PCE data break the “higher for longer” mantra? The US dollar stabilized this week, recovering a small portion of the losses it posted after the CPI data revealed that US inflation resumed its downtrend in April.
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XM Research - 1 month ago

Market Comment – Dollar under pressure as Fed speakers multiply

FOMC minutes in the spotlight today Mixed UK CPI probably keeps the door closed to a June move RBNZ surprises with its hawkishness; kiwi benefits Nvidia reports after the US market close Dollar remains on the back foot The quieter data calendar has turned the market’s attention to the plethora of Fed speakers eager to express their opinions ahead of the next blackout period.
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XM Research - 1 month agoBullish

Technical Analysis – NZDUSD posts new 2-month high

NZDUSD starts the day with strong upside momentum after RBNZ decision MACD and RSI tick higher NZDUSD had an aggressive bullish start at the beginning of the day, following the bounce off the 0.6080 support level and creating a spike towards a fresh two-month high of 0.6151 after the RBNZ’s interest rate decision. The market has been developing well above the penetrated descending trend line since May 14 as well as above the strong obstacle of 200-day simple moving average (SMA).
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XM Research - 1 month ago

Market Comment – Fed uncertainty puts stocks on edge, dollar edges up

Fed policymakers maintain caution ahead of minutes as risk appetite ebbs Commodities retreat from highs amid hawkish Fed, calm in Middle East Dollar inches higher, ether jumps 19% on spot ETF hopes Fed officials sing from same hymn sheet Expectations of two rate cuts by the Fed are in doubt again as investors pared back some of their bets following a string of hawkish commentary by Fed policymakers in the last 24 hours.
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XM Research - 2 months ago

Weekly Technical Outlook – USDJPY, NZDUSD, GBPUSD

USDJPY’s recent bullish turn looks promising ahead of FOMC minutes NZDUSD takes a breather after meaningful weekly gain; RBNZ decision looms GBPUSD examines critical resistance zone amid busy data week FOMC meeting minutes, S&P Global PMIs --> USDJPY Despite surprising stagnation in April’s retail sales data and a slight easing of CPI inflation last week, the Fed is unlikely to reduce interest rates before September.
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XM Research - 2 months ago

Could RBNZ support kiwi’s recent strength? – Preview

RBNZ meets on Wednesday, no rate change expected Quarterly forecasts and press statement will be closely scrutinized Press conference to gain interest if RBNZ turns dovish Kiwi’s recent run against the dollar could be under threat Third RBNZ meeting in 2024 The Reserve Bank of New Zealand will announce its interest rate decision on Wednesday at 02:00 GMT with the press conference following one hour later.
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XM Research - 2 months ago

Week Ahead – Flash PMIs, UK & Japan CPIs in focus; RBNZ to hold rates

After cool US CPI, attention shifts to UK and Japanese inflation Flash PMIs will be watched too amid signs of a rebound in Europe Fed to stay in the spotlight as plethora of speakers, minutes on tap No fireworks expected from RBNZ policy decision Will CPI report bring BoC nearer to a rate cut? Inflation data will dominate the economic agenda once again in the coming week as CPI numbers are due in Canada, Japan and the United Kingdom.
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XM Research - 2 months agoBullish

Technical Analysis – NZDUSD rallies beyond downtrend line

NZDUSD rises above 200-day SMA too RSI and stochastics suggest more bullish moves NZDUSD is flying above the medium-term ascending trend line and the 200-day simple moving average (SMA), indicating a potential upside recovery. According to the technical oscillators, the RSI is heading north and is approaching the 70 level with strong momentum, while the stochastic is entering the overbought territory after the bullish crossover within its %K and %D lines.
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XM Research - 2 months ago

Market Comment – Investors cautious as spotlight falls on US inflation

Dollar gains slightly on hawkish Fed remarks Investors scale back their Fed rate cut bets China’s CPI rises for the third straight month US stocks stay supported despite rebound in yields   Dollar bolstered by Fed, inflation expectations The US dollar traded slightly higher against most of its major peers on Friday, while it started the new week on a cautious note, with traders perhaps reluctant to assume large positions ahead of Wednesday’s CPI inflation numbers.
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XM Research - 2 months agoNeutral

Technical Analysis – NZDUSD bulls face strong resistance

NZDUSD is under pressure following a strong rally from the 2024 lows It has met strong resistance at both the 200-day SMA and a key trendline Momentum indicators are mixed; a bearish divergence is developing After testing the 2024 low at 0.5851 and recording a sizeable rally, NZDUSD is now hovering a tad below the 0.6009-0.6033 area.
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