Mon, Nov 30, 2020 @ 10:09 GMT
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NZD/USD Analysis: Breaks 0.7014 Level

The New Zealand Dollar consolidated against the US Dollar below the weekly resistance level at 0.7014 on Thursday. The NZD/USD exchange rate broke the weekly R2 at 0.7014 during the Asian session on Friday. As for Friday's trading session, the currency pair could continue to climb. The potential target for bulls...

NZDUSD Flies To 29-Month High Above 0.7000

NZDUSD has been developing near to multi-month highs of 0.7028, continuing the powerful buying interest that started from 0.6586. The RSI indicator is hovering around the overbought region, while the MACD is strengthening its movement in the bullish area but marginally beneath the trigger line. The simple moving averages (SMAs)...

NZD/USD Analysis: Remains Near 0.7014

The New Zealand Dollar surged by 32 basis points or 0.75% against the US Dollar on Wednesday. The currency pair tested the weekly R2 at 0.7014 during yesterday's trading session. If the weekly resistance level at 0.7014 holds, bearish traders could pressure the exchange rate lower within this session. The...

NZ Dollar Knocking on 0.70 Doorstep

The New Zealand dollar has recorded slight gains in Wednesday trade. Currently, NZD/USD is trading at 0.6991, up 0.24% on the day. On the fundamental front, New Zealand’s trade deficit is expected to drop to NZ$500 million, down from NZ$1.01 billion beforehand. Finance Minister request to RBNZ boosts NZD Investors and...

NZD/USD Analysis: Could Continue To Edge Up

The New Zealand Dollar soared by 81 points or 1.17% against the US Dollar on Tuesday. The 50– hour simple moving average provided support for the currency pair during yesterday's trading session. All things being equal, the exchange rate could continue to edge up during the following trading session. The...

NZDUSD’s Ascent Pauses But Confidence Remains Intact

NZDUSD is sustaining its bullish demeanour despite sentiment slowing to a degree, after reaching a 29-month high of 0.7004. The Ichimoku lines are preserving the pair's positive bearing, while the rising simple moving averages (SMAs) are defending the bullish structure. The short-term oscillators reflect some waning in positive momentum. The...

NZDUSD Surpasses 70 Cents As The Uptrend Continues

The US Dollar was bearish against all of its major pairs on Tuesday. On the US economic data front, the Conference Board's Consumer Confidence Index fell to 96.1 on month in November (98.0 expected), from a revised 101.4 in October. Wednesday will be a busy day regarding U.S. Eco data...

New Zealand Asks for Help, NZD Likes It: NZD/USD, NZD/JPY, EUR/NZD

Early in today’s Asian session, New Zealand’s Finance Minister Grant Robertson wrote to RBNZ Governor Orr and asked him to factor in house price stability when considering monetary policy.  As a result of lower interest rates, housing prices in New Zealand have skyrocketed and the government is receiving some...

NZD Jumps As Negative Rates Unlikely

The New Zealand dollar has soared in Tuesday trade. Currently, NZD/USD is trading at 0.6984, up 0.89% on the day. In the Asian session, NZD/USD crossed above the psychologically significant 0.7000 level, for the first time since June 2018. Finance Minister request to RBNZ boosts NZD A letter from New Zealand’s...

NZD/USD Bulls Likely To Prevail

The New Zealand Dollar has surged by 87 pips or 1.26% against the US Dollar since yesterday's trading session. The currency pair breached the weekly R1 at 0.6968 on Tuesday morning. As for the near future, the NZD/USD exchange rate could continue to edge up in an ascending channel pattern....

NZD Surges on RBNZ Expectations, Dollar Rebound Short-Lived

Commodity currencies surge broadly today on the back of strong risk appetite, especially in Japan. New Zealand Dollar is additionally boosted after the government asked RBNZ to considering surging house prices in monetary policy moves. Dollar tried to rebound overnight, with the help from downside breakout in Gold. The...

NZD/USD and NZD/JPY surge as traders pare RBNZ expectations

New Zealand Dollar surges broadly today as traders pare bet on RBNZ negative rates, after the government urged the central bank to take " rapid escalation in house prices" into consideration. NZD/USD's rally from 0.5469 continues and it's on track to 61.8% projection of 0.5920 to 0.6797 from 0.6589...

NZ Robertson urged RBNZ to contribute to a stable housing market

New Zealand Finance Minister Grant Robertson urged RBNZ to include house price stability as part of its broad monetary remit. The triggered speculations that the central bank would refrain from launching another round of massive stimulus, including negative interest rates. In a letter to RBNZ Governor Adrian Orr, Robertson said...

Surging NZ Dollar Hits 2020 High

The New Zealand dollar is in positive territory on Monday. Currently, NZD/USD is trading at 0.6964, up 0.49% on the day. NZ dollar closes in on 0.70 line The New Zealand dollar has enjoyed an outstanding month of November, posting gains of 5.3% during that time. The pair has padded further...

NZD/USD Analysis: Pressure By 50– Hour SMA

The New Zealand Dollar edged higher by approximately 40 basis points or 0.69% against the US Dollar on Friday. The 50– hour simple moving average guided the currency pair during Friday's trading session. Everything being equal, the exchange rate could continue to surge in an ascending channel pattern. The potential...

New Zealand Dollar Rises After Strong Q3 Retail Sales

Cryptocurrencies rallied during the weekend as interest in alternative assets continued to rise. The price of Bitcoin rose to a high of $18,950 while Ethereum and Ripple rose to $580 and $0.45 respectively. This strong performance makes these digital currencies the best performing asset class this year. Year-to-date, Bitcoin...

CFTC Commitments of Traders – Net Short in GBP Futures could Trim on Signs of Resolving Brexit Deadlock

As suggested in the CFTC Commitments of Traders report in the week ended November 17, NET SHORT of USD Index futures dropped -154 contracts to 974. Speculative long positions increased +937 contracts and short positions gained +783 contracts. Concerning European currencies, NET LENGTH in EUR futures fell -1 327...

NZD/JPY 4H Chart: Breakout Likely To Occur

The New Zealand Dollar has edged higher by 5.30% against the Japanese Yen since the beginning of November. The currency pair tested the upper boundary of an ascending channel pattern at 72.72 during last week's trading sessions. Currently, the exchange rate is trading near the bottom border of the channel...

NZD/CAD 4H Chart: Buying Signals

The New Zealand Dollar has surged by 3.41% against the Canadian Dollar since the beginning of November. The currency pair breached the 0.9060 during yesterday's trading session. All things being equal, the exchange rate is likely to continue to edge higher during the following sessions. The potential target for the...

NZD/USD Could Continue To Rise

The New Zealand Dollar surged by 47 points or 0.69% against the US Dollar on Thursday. The 100– hour simple moving average provided support for the currency pair during Thursday's trading session. Most likely, the exchange rate could continue to climb during the following trading session. The possible target for...

NZDUSD Rallies Towards Previous High Of 0.6945

NZDUSD is trading not too far from the 0.6945 resistance level and momentum indicators suggest there is still some optimism for the pair to advance again. The near-term bias is looking bullish as the RSI is edging north in the bullish area, while the MACD is trying to extend...

NZD/USD Looking For Resistance

NZDUSD broke higher, out of a triangle in wave 4 so we see pair in a fifth wave now of an impulse that can be looking for a move up to 0.7000-0.7230 potential resistance zone. After wave 5 of a five-wave impulse develops, a temporary A-B-C pullback towards the 0.658/0.63...

NZD/USD New Wave Of Buyers After The Retracement

The NZD/USD positive trend continues. Bulls have been in the zig-zag wave since 0.6580 zone and we should expect even more continuation to the upside. At this point we see a confluence withing the POC zone 0.6882-0.6889. A rejection off the zone should aim for 0.6920 followed by 0.6945. A...

Dollar Still in Recovery Despite Rise in Initial Jobless Claims

Dollar rises mildly today despite the first rise in initial jobless claims in five weeks. Euro and Swiss Fran are following closely. Global markets are still engaging in consolidative trading, with mild weakness in European equities and US futures. Australian Dollar is leading New Zealand Dollar lower. Still, there...

NZD/USD Analysis: Could Edge Lower

The New Zealand Dollar surged by 62 pips or 0.90% against the US Dollar on Wednesday. The currency pair tested the 0.6940 level during yesterday's trading session. As for the near future, bears are likely to pressure the exchange rate lower during the following trading session. The possible target for bearish traders...

NZD/USD Approaching Levels Not Seen In Two Years

Key Highlights NZD/USD started a strong increase above 0.6750 and 0.6880. It might face a strong resistance near the 0.6980 and 0.7000 levels. Gold price is still struggling to clear the $1,900 resistance zone. The Euro Zone CPI declined 0.3% in Oct 2020 (YoY), similar to the market forecast. NZD/USD...

Kiwi, King Of Currencies: NZD/JPY, NZD/USD, GBP/NZD

Last week, the Reserve Bank of New Zealand (RBNZ) left rates unchanged, left their bond buying program unchanged, and introduced a new loan facility…all as expected. In addition, Central Bank Governor Orr signaled they were not considering negative interest rates. That news, combined with only a small cluster of...

NZDUSD Extends Rally

The US Dollar was strongly bearish against all of its major pairs on Wednesday. On the US economic data front, the Mortgage Bankers Association's Mortgage Applications declined 0.3% for the week ending November 13th compared to -0.5% in the previous week. Finally, Housing Starts spiked to 1,530K on month...

NZDUSD Stretches Uptrend To A 20-Month High, Tests Key Barrier

NZDUSD bulls picked up steam to a 20-month high of 0.6917 following the close above 0.6760, where the frequently tested 61.8% Fibonacci retracement of the long 0.7557 – 0.5468 downleg is placed. The recent bullish action could fade in the short term as the price is currently challenging a key...

CFTC Commitments of Traders – Bets for Lower GBP Increased. Brexit Back on Driver’s Seat as Transition Period Ends Soon

As suggested in the CFTC Commitments of Traders report in the week ended November 10, USD Index futures drifted to NET SHORT of 1 128 contracts. Speculative long positions increased +1 177 contracts and short positions gained +3 046 contracts. Concerning European currencies, NET LENGTH in EUR futures fell...