NZD/USD Price Forecast: Bears eye 18-months low at 0.5564
- NZD/USD retreats beyond 1.3% on Wednesday and nears 1-month lows at 0.5565.
- The Kiwi plummeted after the RBNZ left interest rates on hold, against market expectations of a rate hike.
- Failure to extend gains above 0.5700 leaves the broader bearish trend in play.
The New Zealand Dollar (NZD) sells off across the board on Wednesday and dives more than 1.3% against the US Dollar (USD) following the Reserve Bank of New Zealand’s (RBNZ) monetary policy decision. The NZD/USD pair trades at 0.5600 after hitting two-week lows at 0.5584, with bears still focused on the 18-month low at 0.5564.
The RBNZ left its Official Cash Rate (OCR) unchanged at 2.75% earlier on Wednesday, disappointing investors who were nearly fully pricing in a quarter-point rate hike. The Kiwi tanked after the decision, and trimmed some losses afterwards, as Governor Anna Breman hinted at further monetary tightening in December.
The focus now is on the US Federal Reserve, which will release its monetary policy decision at 18:00 GMT. The bank is widely expected to leave rates unchanged, and investors will be looking at Chairman Warsh’s press release to confirm expectations of a further rate hike in December.
Technical Analysis: NZD/USD remains vulnerable while below 0.5700
NZD/USD trades at 0.5607, keeping a bearish near-term tone as spot holds beneath a previous support area around 0.5700. Momentum indicators in the daily chart are mixed, with the Relative Strength Index (14) below 40, after coming up from oversold territory but still pointing to subdued demand. The Moving Average Convergence Divergence (MACD), on the other hand, is just above zero, hinting at only tentative upside attempts within a broader capped environment.
Bears are focusing on the October 14 low at 0.8564. Further down, the 127.2% Fibonacci retracement of the June-August rally, near 0.5530, might provide some support ahead of the April 2026 low at 0.5485.
On the topside, the 0.5700 area has proved a meaningful barrier over the last week, closing the path towartds the September 18 high at 0.5787, and the mid-August and early-September supports between 0.5800 and 0.5820.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
(This story was corrected on October 28 at 09:43 GMT to say that bears are still focused on the 18-month, in the first paragraph, and not bulls, as previously reported.)
New Zealand Dollar Price Today
The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the strongest against the British Pound.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.01% | 0.16% | -0.03% | -0.07% | -0.10% | 1.30% | 0.10% | |
| EUR | 0.01% | 0.17% | -0.02% | -0.06% | -0.09% | 1.31% | 0.11% | |
| GBP | -0.16% | -0.17% | -0.17% | -0.23% | -0.26% | 1.14% | -0.07% | |
| JPY | 0.03% | 0.02% | 0.17% | -0.05% | -0.07% | 1.32% | 0.12% | |
| CAD | 0.07% | 0.06% | 0.23% | 0.05% | -0.03% | 1.37% | 0.18% | |
| AUD | 0.10% | 0.09% | 0.26% | 0.07% | 0.03% | 1.41% | 0.20% | |
| NZD | -1.30% | -1.31% | -1.14% | -1.32% | -1.37% | -1.41% | -1.17% | |
| CHF | -0.10% | -0.11% | 0.07% | -0.12% | -0.18% | -0.20% | 1.17% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote).
Author
Guillermo Alcala
FXStreet
Graduated in Communication Sciences at the Universidad del Pais Vasco and Universiteit van Amsterdam, Guillermo has been working as financial news editor and copywriter in diverse Forex-related firms, like FXStreet and Kantox.
