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  • NZD/USD Forecast – New Zealand Dollar In Downtrend Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar In Downtrend Vs US Dollar

    • – The New Zealand Dollar fell sharply below the 0.6880 and 0.6860 supports against the US Dollar.
    • – There is a key bearish trend line forming with resistance near 0.6865 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Trade Balance report for May 2018 was released by the Statistics New Zealand.
    • – The outcome was above the market forecast of $100M as there was a trade surplus of $294M (MoM).

     

    New Zealand Trade Balance

    Today in New Zealand, the Trade Balance report for May 2018 was released by the Statistics New Zealand. The market was looking for a trade surplus of $100M in May 2018 compared with the previous month.

     

    The actual result was above the market forecast of $100M as there was a trade surplus of $294M. Looking at the yearly change, there was a trade deficit of $-3.60B, less than the forecast of $-3.70B. The report added that:

     

    Goods exports rose $509 million (10 percent) to $5.4 billion, a new high for total exports in a May month, and the second-highest for any month. The highest was $5.5 billion in December 2017.

     

    The NZD/USD pair was not able to recover after the release and is currently trading in a bearish zone below the 0.6860 support.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar faced a lot of selling interest above the 0.6900 level against the US Dollar. The NZD/USD started a downside move and broke the 0.6880 and 0.6860 support levels to settle below the 100 hourly simple moving average.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    The pair broke the 0.6820 support level and traded as low as 0.6813. At the moment, the pair is correcting higher and is trading towards the 23.6% Fib retracement level of the last decline from the 0.6899 high to 0.6813 low.

     

    On the upside, there are many hurdles near the 0.6860 level. There is also a key bearish trend line forming with resistance near 0.6865 on the hourly chart of the NZDUSD pair. An intermediate resistance is near the 50% Fib retracement level of the last decline from the 0.6899 high to 0.6813 low at 0.6856.

     

    Therefore, if the pair corrects higher, it could face sellers near 0.6850 and 0.6860. On the downside, the 0.6820 and 0.6800 support levels hold the key for the next move.

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  • NZD/USD Forecast – New Zealand Dollar Extending Losses Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar Extending Losses Vs US Dollar

    • – The New Zealand Dollar declined sharply and broke the 0.6900 support against the US Dollar.
    • – There was a break below a crucial declining channel support at 0.6850 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Gross Domestic Product report for Q1 2018 was released by the Statistics New Zealand.
    • – The outcome was around the market forecast as the GDP grew by 0.5% in Q1 2018.

     

    New Zealand Gross Domestic Product

    Today in New Zealand, the Gross Domestic Product report for Q1 2018 was released by the Statistics New Zealand. The market was looking for a rise of around 0.5% in the GDP in Q1 2018, compared with the previous quarter.

     

    The actual result was around the market forecast as the GDP grew by 0.5% in Q1 2018. Looking at the yearly change, there was a rise of 2.7% in the GDP in Q1 2018, less than the last reading of 2.9%. The report added that:

     

    The service industries were up 0.6 percent in the March 2018 quarter, down from a 1.1 percent increase in the December 2017 quarter. An increase in manufacturing was offset by a fall in construction activity, resulting in a flat quarter for the goods-producing industries. The primary industries were up 0.6 percent, rebounding slightly from a 2.6 percent fall in the previous quarter.

     

    The NZD/USD pair remained in a downtrend and it seems like the pair could extend losses below the 0.6830 in the near term.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar started a major downside move from well above the 0.7020 level against the US Dollar. The NZD/USD declined, broke a few important supports such as 0.6980 and 0.6900, and also settled below 100 hourly simple moving average.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    The pair even traded below the 0.6850 support and recently formed a low at 0.6831. Moreover, there was a break below a crucial declining channel support at 0.6850 on the hourly chart of the NZDUSD pair.

     

    At the moment, the pair is consolidating losses with an initial resistance is around the 23.6% Fib retracement level of the last decline from the 0.6916 high to 0.6831 low. Above the 0.6850 level, the pair is likely to face a strong sell zone near 0.6875.

     

    Moreover, the channel upper trend line is at 0.6880 to prevent upsides. On the downside, the pair could break the 0.6830 level to move towards the 0.6800 level.

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  • NZD/USD Forecast – Can New Zealand Dollar Hold This Support Vs US Dollar?

    NZD/USD Forecast – Can New Zealand Dollar Hold This Support Vs US Dollar?

    • – The New Zealand Dollar struggled to move above the 0.6935 resistance and declined against the US Dollar.
    • – There is a major bullish trend line in place with support at 0.6885 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Retail Sales report for Q1 2018 was released by the Statistics New Zealand.
    • – The outcome was below the market forecast of +1.0% as sales increased only 0.1% in Q1 2018.

     

    New Zealand Retail Sales

    Today in New Zealand, the Retail Sales report for Q1 2018 was released by the Statistics New Zealand. The market was looking for a rise of around 1% in sales in Q1 2018, compared with the previous quarter.

     

    The actual result was below the market forecast of +1.0% as sales increased only 0.1% in Q1 2018. It was also well below the last revised reading of +1.4%. Looking at the Retail Sales ex Autos figure, there was a rise of 0.6%, less than the last +1.8%. The report added that:

     

    Electrical and electronic goods had the largest dollar volume increase in this series, up 5.4 percent. Trends for the sales volume in this industry have been rising over the past 10 years; coincidently price changes in this industry have generally fallen over the same period.

     

    The NZD/USD pair declined and is currently trading near a major support area around 0.6880-90, which holds the key for the next move.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar managed to start an upside move from the 0.6855 low against the US Dollar. The NZD/USD pair gained traction, moved above the 0.6880 and 0.6900 resistance levels, and also settled above 100 hourly simple moving average.

     

    However, the pair failed to move above the $0.7935-40 resistance area. Later, it corrected lower and moved below the 50% Fib retracement level of the last wave from the 0.6871 low to 0.6932 high.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    On the downside, there are many supports around the 0.6880 level. There is also a major bullish trend line in place with support at 0.6885 on the hourly chart of the NZDUSD pair. Moreover, the 61.8% Fib retracement level of the last wave from the 0.6871 low to 0.6932 high is at 0.6894.

     

    Lastly, the 100 hourly SMA is positioned near 0.6890 to act as a strong support. Therefore, as long as the pair is above the 0.6880 support and the 100 hourly SMA, it could bounce back above 0.6900. On the flip side, below 0.6880, the pair might retest 0.6850.

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  • NZD/USD Forecast – New Zealand Dollar In Major Downtrend Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar In Major Downtrend Vs US Dollar

    • – The New Zealand Dollar is under a lot of pressure and is currently below 0.7200 against the US Dollar.
    • – There is a crucial bearish trend line forming with resistance at 0.7140 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Visitor Arrivals report for March 2018 was released by the Statistics New Zealand.
    • – The outcome was above the market forecast of +12% as the Visitor Arrivals rose 13% in March 2018.

     

    New Zealand Visitor Arrivals

    Today in New Zealand, the Visitor Arrivals report for March 2018 was released by the Statistics New Zealand. The market was looking for a rise of around 12% in Visitor arrivals in March 2018, more than the last 11.4%.

     

    The actual result was above the market forecast of +12% as the Visitor Arrivals rose 13% in March 2018. Looking at the yearly change in March 2018, the visitor arrivals numbered 3.82 million, which was 8% more to 276,200.

     

    However, the NZD/USD pair remains in a major downtrend below the 0.7200 pivot level, and it could decline further.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar started a major downside move from well above 0.7300 against the US Dollar. The NZD/USD pair tumbled, declined below the 0.7300 and 0.7200 supports levels, and is currently trading well below the 100 hourly simple moving average.

     

    The pair traded close to the 0.7100 level and formed a low at 0.7114. At the moment, the pair is consolidating losses above 0.7100 with an initial resistance around the 23.6% Fib retracement level of the last drop from the 0.7208 high to 0.7114 low.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    More importantly, there is a crucial bearish trend line forming with resistance at 0.7140 on the hourly chart of the NZDUSD pair. The trend line resistance is close to the 38.2% Fib retracement level of the last drop from the 0.7208 high to 0.7114 low.

     

    Therefore, if the pair corrects higher from the current levels, it may face sellers near the 0.7150 level. On the downside, break below 0.7114 could open the doors for a break below 0.7100 in the near term.

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  • NZD/USD Forecast – New Zealand Dollar Eyes Further Gains Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar Eyes Further Gains Vs US Dollar

    • – The New Zealand Dollar is trading nicely and is currently above the 0.7300 level against the US Dollar.
    • – There is a major bullish trend line forming with support at 0.7320 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the NZIER Business Confidence for Q1 2018 was released by the New Zealand Institute of Economic Research.
    • – The outcome was above the market forecast of -12% as the NZIER Business Confidence declined 11%.

     

    New Zealand NZIER Business Confidence

    Today in New Zealand, the NZIER Business Confidence for Q1 2018 was released by the New Zealand Institute of Economic Research. The market was looking for a decline of around 12% in the index in Q1 2018 compared with the previous quarter.

     

    The actual result was above the market forecast of -12% as the NZIER Business Confidence declined 11%. This was also better than the last -12%, but we cannot discard the fact that there was a decline of 11%. The report stated:

     

    The latest NZIER Quarterly Survey of Business Opinion (QSBO) shows businesses continue to expect a deterioration in economic conditions over the coming months. Business confidence had fallen sharply in the December 2017 quarter in the wake of the new Labour-led Government taking office, and this pessimism has carried over into the first quarter of 2018.

     

    The NZD/USD pair was not affected much and it seems like the pair may continue to rise above 0.7320 in the near term.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar started a nice bullish wave from the 0.7250 swing low against the US Dollar. The NZD/USD pair moved higher and it was successful in moving past a major hurdle near 0.7300 and the 100 hourly simple moving average.

     

    The pair even succeeded in breaking the last swing high of 0.7321, which is a positive signs. It means there is a chance of it trading towards the 1.236 Fib extension of the last drop from the 0.7321 high to 0.7242 low.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    At the moment, the pair is correcting lower with an initial support near the 0.7321 level. Moreover, there is a major bullish trend line forming with support at 0.7320 on the hourly chart of the NZDUSD pair. As long as the pair is above the 0.7300 level, it remains supported for more gains.

     

    On the upside, the next hurdles could be 0.7340 and 0.7350. Above 0.7350, the pair may even trade towards the 0.7400 level in the near term.

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  • NZD/USD Forecast – New Zealand Dollar to Rise Further Vs US Dollar?

    NZD/USD Forecast – New Zealand Dollar to Rise Further Vs US Dollar?

    • – The New Zealand Dollar is slowly moving higher and is currently above 0.7250 against the US Dollar.
    • – There is a key bullish trend line forming with support at 0.7250 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Trade Balance report for Feb 2018 was released by the Statistics New Zealand.
    • – The outcome was above the market forecast of $150M as there was a trade surplus of $217M (MoM).

     

    New Zealand Trade Balance

    Today in New Zealand, the Trade Balance report for Feb 2018 was released by the Statistics New Zealand. The market was looking for a trade surplus of around $150M in Feb 2018 compared with the previous month.

     

    The actual result was above the market forecast of $150M as there was a trade surplus of $217M. In terms of the yearly change, there was a trade deficit of $-3.02B, which was less than the last $-3.28B. The report stated:

     

    Goods exports rose $446 million (11 percent) to $4.5 billion. Goods imports rose $187 million (4.6 percent) to $4.2 billion, a new high for total imports in a February month. The previous high was $4.1 billion, in February 2017.

     

    The NZD/USD pair is currently placed nicely above the 0.7250 support and it looks set for more gains in the near term.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar started a decent upside move from the 0.7200 swing low against the US Dollar. The NZD/USD pair traded higher and succeeded in breaking a couple of important resistance levels such as 0.7220 and 0.7250.

     

    The pair is now trading well above the 0.7200 handle and the 100 hourly simple moving average. It moved above the last swing high of 0.7273 and it looks set to break the 1.236 Fib extension of the last decline from the 0.7273 high to 0.7228 low.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    If buyers remain in action, there is a chance of it breaking the 0.7285 resistance as well. The next hurdle could be the 1.618 Fib extension of the last decline from the 0.7273 high to 0.7228 low at 0.7300.

     

    On the downside, there is a key bullish trend line forming with support at 0.7250 on the hourly chart. Thus, any dips or short-term corrections are likely to find support near 0.7250.

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  • NZD/USD Forecast – New Zealand Dollar In Decent Uptrend Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar In Decent Uptrend Vs US Dollar

    • – The New Zealand Dollar is gaining momentum above 0.7300 against the US Dollar.
    • – There is a major bullish trend line forming with support at 0.7310 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Gross Domestic Product for Q4 2017 was released by the Statistics New Zealand.
    • – The outcome was below the market forecast of 0.7% as there was a rise of 0.6% in the GDP (QoQ).

     

    New Zealand Gross Domestic Product

    Today in New Zealand, the Gross Domestic Product for Q4 2017 was released by the Statistics New Zealand. The market was looking for a rise of 0.7% in the GDP in Q4 2017 compared with the previous quarter.

     

    The actual result was below the market forecast of 0.7% as there was a rise of 0.6% in the GDP. In terms of the yearly change, there was a rise of 2.9% in the GDP, less than the forecast of 3.1%. The report stated:

     

    Activity in the service industries rose 1.1 percent, with 10 of the 11 service industries recording increases in the December 2017 quarter. Overall growth in the service industries was led by a 2.3 percent increase in business services, particularly computer system design and related services, and advertising, market research, and management services.

     

    The NZD/USD pair is currently remains well supported and it could rise above the 0.7320 level in the near term.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar recently traded above the 0.7320 level against the US Dollar. The NZD/USD pair traded as high as 0.7354 before starting a downside correction. It moved down and broke the 0.7320 support.

     

    However, the downside move was protected by the 0.7300 support and the 100 hourly simple moving average. Moreover, there is a major bullish trend line forming with support at 0.7310 on the hourly chart of the NZDUSD pair.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    The pair is now recovering and is currently trading above the 23.6% Fib retracement level of the last decline from the 0.7354 high to 0.7303 low. However, it must break the 0.7335 resistance and the 61.8% Fib retracement level of the last decline from the 0.7354 high to 0.7303 low to gain momentum.

     

    A break above 0.7335 could push the pair towards 0.7350 and 0.7360. On the downside, the 0.7315 and 0.7310 are important support levels.

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  • NZD/USD Forecast – New Zealand Dollar To Decline Further Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar To Decline Further Vs US Dollar

    • – The New Zealand Dollar started a fresh downside wave from the 0.7345 swing high against the US Dollar.
    • – There is a major bearish trend line forming with resistance at 0.7315 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Trade balance report for Jan 2018 was released by Statistics New Zealand.
    • – The outcome was below the market forecast of $-2.711B as there was a trade deficit of $-3.220B (YoY).

     

    New Zealand Trade Balance

    Today in New Zealand, the Trade balance report for Jan 2018 was released by Statistics New Zealand. The market was looking for a trade deficit of $-2.711B in Jan 2018 compared with the same month a year ago.

     

    The actual result was below the market forecast of $-2.711B as there was a trade deficit of $-3.220B. This was also above the last deficit of $-2.880B. The report added that:

     

    Goods exports rose $373 million (9.5 percent) to $4.3 billion in January 2018. This was a new high for a January month, exceeding the previous high of $4.1 billion in January 2014. This record follows on from the all-time high of $5.5 billion for December 2017.

     

    The NZD/USD pair seems to be struggling to hold the 0.7270 support and it could decline further in the near term.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar remained under a bearish pressure since the last week, and moved below 0.7380 against the US Dollar. The NZD/USD pair is currently under a lot of pressure and it recently broke the 0.7300 support to settle below the 100 hourly simple moving average.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    The pair is now well below the 76.4% Fib retracement level of the last wave from the 0.7270 low to 0.7344 high. It has opened the doors for more losses and the pair may soon break the 0.7270 low to decline further.

     

    The next stop could be the 1.236 Fib extension of the last wave from the 0.7270 low to 0.7344 high at 0.7252. On the upside, there is a major bearish trend line forming with resistance at 0.7315 on the hourly chart.

     

    Therefore, if the pair starts an upside correction, it is likely to face a lot of sellers around the 0.7300 and 0.7315 levels. On the downside, a break below the 0.7270 support could push the pair towards 0.7250 and 0.7220.

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  • NZD/USD Forecast – New Zealand Dollar to Retest 0.7300 Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar to Retest 0.7300 Vs US Dollar

    • – The New Zealand Dollar traded as high as 0.7436 before starting a downside correction against the US Dollar.
    • – There is a key declining channel forming with resistance at 0.7365 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Producer Price Index Input figure for Q4 2017 was released by the Statistics New Zealand.
    • – The outcome was above the market forecast of 0.3% as there was a rise of 0.9% in the input PPI (QoQ).

     

    New Zealand Producer Price Index

    Today in New Zealand, the Producer Price Index Input figure for Q4 2017 was released by the Statistics New Zealand. The market was looking for a rise of 0.3% in the PPI Input in Q4 217 compared with the previous quarter.

     

    The actual result was above the market forecast of 0.3% as there was a rise of 0.9% in the input PPI. Moreover, the output index rose 1% in Q4 2017, which was more than the forecast of 0.4%. The report added that:

     

    Output prices for the mining industry increased 9.3 percent, influenced by higher crude oil prices received by gas and oil extraction producers. Input prices paid by petroleum and coal product manufacturers rose 12 percent in the December 2017 quarter, influenced by higher imported crude oil prices.

     

    The NZD/USD pair struggled to move higher and is currently trading below the 0.7370 support and the 100 hourly simple moving average.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar made a nice upside move this past week and traded above the 0.7400 level against the US Dollar. The NZD/USD pair traded as high as 0.7436 where it faced a strong selling interest and started a downside move.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    The pair declined and traded below the 23.6% Fib retracement level of the last wave from the 0.7239 low to 0.7436 high. More importantly, there was a break below the 0.7370 support and the 100 hourly simple moving average.

     

    At the moment, there is a key declining channel forming with resistance at 0.7365 on the hourly chart of the NZDUSD pair. The pair may decline a few more pips in the short term towards the 50% Fib retracement level of the last wave from the 0.7239 low to 0.7436 high.

     

    On the downside, the 0.7300 level is a strong support and a buy zone. On the upside, a break above 0.7370 and the 100 hourly SMA could ignite an upward move.

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  • NZD/USD Forecast – New Zealand Dollar Facing Major Resistance Vs US Dollar

    NZD/USD Forecast – New Zealand Dollar Facing Major Resistance Vs US Dollar

    • – The New Zealand Dollar faced a lot of sellers near the 0.7340-50 resistance against the US Dollar.
    • – There is a major bearish trend line forming with resistance at 0.7350 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the Employment Change report for Q4 2017 was released by the Statistics New Zealand.
    • – The outcome was above the market forecast of 0.2% as there was a change of 0.5%, but less than the last 2.2%.

     

    New Zealand Employment Change

    Today in New Zealand, the Employment Change report for Q4 2017 was released by the Statistics New Zealand. The market was looking for a change of 0.2% in Q4 217 compared with the last change of 2.2%.

     

    The actual result was above the market forecast of 0.2% as there was a change of 0.5%, but less than the last 2.2%. The unemployment rate dropped from the last reading of 4.6% to 4.5%. The report added that:

     

    The unemployment rate for the December 2017 quarter remains considerably above New Zealand’s lowest unemployment rate, which was 3.3 percent, recorded a decade ago in the December 2007 quarter, immediately before the global financial crisis.

     

    The NZD/USD pair failed to move above the 0.7340 and 0.7350 resistance levels, and started a downside move.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar started a fresh upside wave from the 0.7256 low against the US Dollar. The NZD/USD pair traded above the 0.7280 and 0.7300 resistance levels to gain decent upside momentum.

     

    NZD/USD Technical Analysis, New Zealand Dollar US Dollar

     

    The pair even moved above the 38.2% Fib retracement level of the last decline from the 0.7405 high to 0.7256 low. However, the upside move was capped by a major bearish trend line with resistance at 0.7350 on the hourly chart.

     

    Moreover, the 61.8% Fib retracement level of the last decline from the 0.7405 high to 0.7256 low also acted as a resistance and prevented gains above the 0.7350 level. The pair is once again moving lower and is currently trading below the 0.7320 level.

     

    If the pair fails to move higher above the 0.7340 and 0.7350 resistance levels, it remains at a risk of more declines below the 0.7300 level and towards 0.7260.

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