NZD/USD Price Analysis: Over extended bearish impulse

NZD/USD bulls are looking to the daily Fibos for a meaningful test of daily resistance.
Hourly oversold conditions and a break of resistance will expose the daily 50% mean reversion level.

Ross J Burland FXStreet

The price of NZD/USD is sitting at a monthly support level that meets a 38.2% Fibonacci retracement level as additional confluence.

At this juncture, the price would be expected to continue higher within the bullish trend.

The following is a top-down analysis that illustrates where the next trading opportunity could evolve from on the lower time frames.

Monthly chart

Daily chart

The bulls have a clear target back to the old support in a 50% mean reversion.

1-hour chart

The oversold conditions are ripening the price for a break of the immediate resistance. A break there will expose the daily target.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

GBP/USD holds recovery gains near 1.3400 despite soft UK CPI data

GBP/USD clings to recovery gains near 1.3400 in European trading on Wednesday. The UK annual Consumer Price Index (CPI) inflation cooled to 2.6% in June against the market forecast of 2.7%, failing to deter the British Pound's rebound from weekly troughs. However, the pair's further upside could be limited by ongoing Mideast tensions and sustained US Dollar demand as a haven.

EUR/USD gains ground above 1.1400 on hawkish ECB tone

The EUR/USD pair holds positive ground near 1.1410 during the early European trading hours, bolstered by a hawkish tone from the European Central Bank. However, the potential upside for the major pair might be limited amid escalating military tensions and recent retaliatory airstrikes between the US and Iran.

Gold: Strong recovery might face roadblock as oil price extends gains

Gold price extends its winning streak for the third trading day on Wednesday, trading 1.5% higher to near $4,140 during the Asian session. The precious metal recovered strongly in the past few trading days from its three-week low of $3,959.80 as traders scaled back Federal Reserve’s interest rate hike expectations for the monetary policy meeting next week.

Bitcoin holds firm as ONDO and GRAM lead rally

The broader cryptocurrency market is witnessing an easing of bearish momentum, with Bitcoin holding above $66,000 on Wednesday. Altcoins including Ondo and Gram, formerly known as Toncoin, are leading gains over the last 24 hours, driven by new features. Bitcoin holds above $66,000 on Wednesday, following a 2% surge the previous day.

Hyperliquid hits a make-or-break zone amid easing demand

Hyperliquid (HYPE) hovers around $60 capped below its 50-day Exponential Moving Average at $62.70. The everything exchange token is losing its retail demand as funding rates fluctuate near zero amid elevated long liquidations.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.