NZD/USD to advance nicely towards the 0.7306 highs – Credit Suisse

FXStreet Insights Team FXStreet

The NZD/USD pair has held above the 0.7170 uptrend from the 2021 lows – which maintains a mild upward tilt for a move back to 0.7306, analysts at Credit Suisse appraise.

Kiwi keeps a mild upward tilt in place

“The break above resistance at 0.7180 should relieve the downward pressure and confirm that the uptrend has held, with next resistance thereafter at 0.7245/47, then the recent highs at 0.7306/16, which recently stalled the market, before the 78.6% retracement of the Q1 fall at 0.7353, where we would expect another pause.”

The next supports below 0.7146/34 are seen at 0.7122/15, with a break below here needed to turn the risks lower for a move back to the 0.7004/6997 lows, with the 200-day average just below at 0.6970.”

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

USD/JPY stays below 160.50 as markets assess BoJ decision

USD/JPY fluctuates in a relatively narrow range above 160.00 on Tuesday as markets assess the Bank of Japan's (BoJ) decision to raise the policy rate by 25 at the June meeting. Meanwhile, investors keep a close eye on news coming out of the Middle East, while preparing for the critical Fed meeting.

AUD/USD struggles for direction, still below 0.7100

AUD/USD looks to extend Monday’s recovery, although a challenge to the 0.7100 barrier remains elusive ahead of the opening bell in Asia. The Aussie Dollar was unable to take advantage of the RBA's relatively cautious message, which included keeping its OCR unchanged at 4.35% and leaving the possibility of further tightening in the future.

Gold: $4,000 or $4,500? The Fed may decide Gold’s next big move

Gold now surrenders part of its initial advance and recedes to the vicinity of the $4,350 mark per troy ounce on Tuesday. The early enthusiasm sparked by the US-Iran peace deal has faded somewhat, prompting investors to adopt a more prudent stance as they await further details of the agreement and key guidance from the Fed.

XRP pulls back as subdued ETF inflows, layered resistance cap upside

Ripple (XRP) remains elevated above $1.23 at the time of writing on Tuesday, struggling amid a capped upside. Despite an improved overall market sentiment driven by news of a peace agreement between the United States and Iran to end the war in the Middle East, capital inflows remain notably subdued.

1% rate, 160 Yen: Why Japan’s historic hike changed little

The Bank of Japan (BoJ) pushed its short-term policy rate to 1% on Tuesday, the highest setting since 1995 and a 31-year milestone in a normalization cycle barely two years old. It is the kind of number that should mark a turning point for the Yen, and it did almost nothing.

Why a hawkish RBA is no longer enough to lift the Australian Dollar

The Reserve Bank of Australia delivered more than what markets expected: a hawkish hold that should have supported the Aussie. But markets widely ignored it, focusing instead on slowing economic growth and proving that central bank messaging alone isn’t always enough to drive currencies.