NZDUSD

The Kiwi dollar was the top winner in Asia on Wednesday, surging 1.8% after the Reserve Bank of New Zealand kept interest rates unchanged, but following statement showed less dovish than expected tone, as central ban’s top officials pointed at balanced risks and unchanged risk of rate cut that unleashed bulls.
Traders took profits from 0.6941/0.6719 fall that was contained by rising 100SMA and strong bullish acceleration turned near-term outlook into positive mode, as stochastic reversed from oversold territory and north-heading momentum broke into positive zone.
Rally faces headwinds from strong barriers at 0.6856/60 zone (Fibo 61.8% of 0.6941/0.6719 / base of falling weekly cloud) which may further obstruct bulls despite strong improvement in the sentiment.
Corrective easing should be ideally contained by converged 20/55 SMA’s and broken Fibo 38.2% at 0.68 zone to keep bulls intact for fresh attempt higher.
Sustained break above 0.6856/60 pivots would generate fresh bullish signal and open way for possible full retracement of 0.6941/0.6719 bear-leg.
Conversely, return and close below 0.68 support zone would signal recovery stall and weaken near-term structure.

Res: 0.6830; 0.6860; 0.6889; 0.6907
Sup: 0.6800; 0.6771; 0.6754; 0.6719

NZDUSD

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD extends slide, nears the 1.1200 figure

The shared currency is suffering from speculation the ECB will steepen easing and German Business Sentiment falling by more-than-anticipated. Upbeat US Retail Sales sent the pair further down toward the 1.1200 figure.

 

EUR/USD News

GBP/USD collapsed to fresh 2019 lows

Robust employment data fell short of supporting the Pound, badly hurt from mounting fears about a hard-Brexit, after PM’s candidates, Johnson and Hunt said that the Irish backstop is “dead” and would seek for a new daily, something the EU is not willing to do.

GBP/USD News

USD/JPY: risk sentiment skews the pair to the downside

Political and economic turmoil in Europe weighed on the market’s sentiment. US Retail Sales seen posting a modest advance in June. USD/JPY to resume its decline if the 107.70 support gives up.

USD/JPY News

Gold in search of a firm direction, stuck in a range ahead of US data/Powell

Gold lacked any firm directional bias and seesawed between tepid gains/minor losses through the mid-European session on Tuesday.

Read more

Gold keeps the red near $1410 level ahead of Powell’s speech

Gold finally broke down of its consolidative trading range and tumbled to fresh session lows, below $1410 level during the early North-American session.

Gold News

Majors

Cryptocurrencies

Signatures