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  • NZD/USD Forecast – New Zealand Dollar Gains Vs US Dollar After RBNZ

    NZD/USD Forecast – New Zealand Dollar Gains Vs US Dollar After RBNZ

    • – The New Zealand Dollar is gaining upside momentum above 0.6950 against the US Dollar.
    • – There is a key bullish trend line forming with support at 0.6920 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the RBNZ Interest Rate Decision Nov 2017 was announced by the Reserve Bank of New Zealand.
    • – The outcome was around the market forecast, as there was no change in rates in Nov 2017 from 1.75%.

     

    RBNZ Interest Rate Decision

    Today in New Zealand, the RBNZ Interest Rate Decision Nov 2017 was announced by the Reserve Bank of New Zealand. The market was looking for no change in rates in Nov 2017 from 1.75%.

     

    The actual result was in line with the market forecast of 1.75%. There was also a slight less dovish tone this time by the central bank in November’s statement. The statement added that:

     

    GDP in the June quarter grew broadly in line with expectations, following relative weakness in the previous two quarters. Employment growth has been strong and GDP growth is projected to strengthen, with a weaker outlook for housing and construction offset by accommodative monetary policy, the continued high terms of trade, and increased fiscal stimulus.

     

    Overall, the NZD/USD pair might continue to gain pace and it could even trade towards 0.7000 in the near term.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar after forming a bottom around the 0.6880-0.6890 levels against the US Dollar started an upside move. The NZD/USD pair traded higher and was able to settle above the 0.6920 resistance and the 100 hourly simple moving average.

     

    NZD/USD Technical Analysis New Zealand Dollar US Dollar

     

    At the moment, the pair is attempting a close above a major resistance area near 0.6950. Should there be a close above 0.6950, there can be an upside move toward 0.7000. On the downside, there is a key bullish trend line forming with support at 0.6920 on the hourly chart.

     

    Moreover, the 38.2% Fib retracement level of the last wave from the 0.6890 low to 0.6973 high would also act as a support in the near term, and can be seen as a buy zone above 0.6940.

     

    Overall, the pair remains in an uptrend and it is likely to gain further momentum above the 0.6970 level in the near term.

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  • NZD/USD Forecast – New Zealand To Extend Declines Vs US Dollar

    NZD/USD Forecast – New Zealand To Extend Declines Vs US Dollar

    • – The New Zealand Dollar is under a lot of pressure and moved below 0.7240 against the US Dollar.
    • – There is a major bearish trend line forming with resistance at 0.7210 on the hourly chart of the NZDUSD pair.
    • – Today in New Zealand, the RBNZ Interest Rate Decision (Sep 2017) was announced by the Reserve Bank of New Zealand.
    • – The outcome was in line with the forecast of 1.75%, as there was no change in the interest rates.

     

    RBNZ Interest Rate Decision

    Today in New Zealand, the RBNZ Interest Rate Decision (Sep 2017) was announced by the Reserve Bank of New Zealand. The market was not expecting any change in the interest rates from 1.75%.

     

    The actual result was in line with the forecast of 1.75%, as there was no change in the interest rates. The rate statement mentioned that the GDP in the second quarter of 2017 was in line with expectations, and the annual CPI remains in the target range despite of a minor decline in Q2 2017. The report added that:

     

    House price inflation continues to moderate due to loan-to-value ratio restrictions, affordability constraints, and a tightening in credit conditions. The trade-weighted exchange rate has eased slightly since the August Statement. A lower New Zealand dollar would help to increase tradables inflation and deliver more balanced growth.

     

    Overall, the NZD/USD pair might remain under bearish pressure and could even break the 0.7160 support in the near term.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar started a major downside move from the 0.7340-40 levels against the US Dollar. The NZD/USD pair traded below a couple of important support levels such as 0.7300 and 0.7250.

     

    NZD/USD Technical Analysis New Zealand Dollar  US Dollar

     

    The pair is now well below the 0.7240 support and the 100 hourly simple moving average. It traded as low as 0.7167 and later started correcting higher. It traded above the 23.6% Fib retracement level of the last decline from the 0.7343 high to 0.7167 low.

     

    However, the upside move was protected by a major bearish trend line with current resistance at 0.7210 on the hourly chart. Moreover, the 38.2% Fib retracement level of the last decline from the 0.7343 high to 0.7167 low also acted as a hurdle for buyers.

     

    Overall, the pair remains in a downtrend and it might soon attempt a break of the recent low at 0.7167 for a move towards 0.7140.

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  • NZD/USD Forecast – Can New Zealand Dollar Gains Momentum Vs US Dollar?

    NZD/USD Forecast – Can New Zealand Dollar Gains Momentum Vs US Dollar?

    • – The New Zealand Dollar remains in a downtrend below 0.7280 against the US Dollar.
    • – There is a crucial bearish trend line with resistance at 0.7265 forming on the hourly chart of NZD/USD.
    • – Today in New Zealand, the RBNZ Interest Rate Decision (June 22, 2017) was announced in which the central bank kept rates at 1.75%.

     

    RBNZ Interest Rate Decision

    Today in New Zealand, the RBNZ Interest Rate Decision (June 22, 2017) was announced by the Reserve Bank of New Zealand. The market was positioned for no changes in rates from 1.75%.

     

    The actual result was in line with the forecast, as the central bank kept rates at 1.75%. Furthermore, the Visitor Arrivals for May 2017 was released by the Statistics New Zealand. The market was expecting an increase of around 10%. However, the actual result was lower, as there was a rise of 8%. The report added that “Annual net migration reached 72,000 in the May 2017 year. Migrant arrivals numbered 130,400 and migrant departures numbered 58,400 in the year ended May 2017”.

     

    Overall, the NZD/USD may find it difficult to gain pace and move above the 0.7265-70 resistance in the near term.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar is in a minor downtrend and moved below the 0.7280 support against the US Dollar. The NZD/USD pair recently declined towards the 0.7200 handle where it found support and started correcting higher.

     

    NZD/USD Technical Analysis New Zealand US Dollar

     

    The pair recovered and moved above the 100 hourly simple moving average and the 38.2% Fib retracement level of the last decline from the 0.7297 high to 0.7205 low. On the upside, there is a crucial bearish trend line with resistance at 0.7265 forming on the hourly chart.

     

    The same trend line resistance is near the 61.8% Fib retracement level of the last decline from the 0.7297 high to 0.7205 low. If there is a move towards the trend line resistance or 0.7265, there are chances of sellers protecting gains.

     

    On the downside, the 100 hourly simple moving average and the 0.7240 level is a short-term support zone. A break below it could push the pair back towards the last swing low of 0.7210-00 in the near term.

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  • NZD/USD Forecast – New Zealand Dollar Remains On Top Vs Dollar

    NZD/USD Forecast – New Zealand Dollar Remains On Top Vs Dollar

    • – The New Zealand Dollar moved higher against the US Dollar, and currently well above the 0.7010 resistance.
    • – There is a monster bullish trend line with support at 0.7020 formed on the hourly chart of NZD/USD.
    • – The RBNZ Interest Rate Decision (March 23, 2017) was announced by the Reserve Bank of New Zealand in which the central bank announced no change in rate from 1.75%.

     

    RBNZ Interest Rate Decision

    Today during the Asian session, the RBNZ Interest Rate Decision (March 23, 2017) was announced by the Reserve Bank of New Zealand. The market was not expecting any reduction in rates from 1.75%, and the result was the same.

     

    The outcome was positive, as helped the New Zealand Dollar to remain above the 0.7000 handle against the US Dollar. A few key points from the official release – “Global headline inflation has increased, partly due to a rise in commodity prices, although oil prices have fallen more recently”, “Quarterly GDP was weaker than expected in the December quarter, but some of this is considered to be due to temporary factors” and “Monetary policy will remain accommodative for a considerable period.”

     

    Overall, the New Zealand Dollar remains supported for more gains above the 0.7050 level in the near term with a chance of a move towards 0.7100.

     

    NZD/USD Technical Analysis

    The New Zealand Dollar managed to stay in the bullish trend with a move above 0.7010 against the US Dollar. The NZD/USD pair was successful in breaking the 100 hourly simple moving average at 0.7030, resulting in a positive bias.

     

    NZD/USD Technical Analysis New Zealand US Dollar

     

    The pair is trading above the 0.7010 support and the 100 hourly simple moving average. Moreover, there is a monster bullish trend line with support at 0.7020 formed on the hourly chart. So, we can say that the pair is well above the 0.7010-0.7020 support area, and looking to extend gains.

     

    It is already above the 23.6% Fib retracement level of the last drop from the 0.7072 high to 0.7025 low. So, there is a chance of it moving higher towards a bearish trend line at 0.7060 on the same chart. A break above it could ignite a move towards the 0.7083 level. It represents the 1.236 extension of the last drop from the 0.7072 high to 0.7025 low.

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