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NZDUSD continues to decline and price is currently testing an important support level at 0.6860. Tomorrow we have RBNZ interest news announcement followed by press conference and any dovish comments by RBNZ could pave the way for further bearish movement into 0.6675 level. Moreover, on any bullish movement the 0.7000 level could act as resistance.
Блог alifari
DAY 19 - NZDUSD ANALYSIS
Couple of important news event scheduled in coming week which could bring volatility on NZDUSD pair. On Tuesday we have GDT Price Index which fell in last two occasion and analyst expect another decline in prices, as such bearish price action expected on this pair after this news event.
Thereafter on Wednesday RBNZ Interest Rate Statement, while analyst expect no change in interest rate, however it would be interesting to see whether they are dovish or hawkish on future economic growth, which co…
Thereafter on Wednesday RBNZ Interest Rate Statement, while analyst expect no change in interest rate, however it would be interesting to see whether they are dovish or hawkish on future economic growth, which co…
DAY 9 - NZDUSD ANALYSIS
RBNZ interest rate decision is scheduled for Thursday and majority of analysts expect a 25 basis point rate cut. New Zealand economy have shown signs of slowdown and as a result CPI failed to go up and higher New Zealand Dollar is hurting export sector. Keeping this in mind I am expecting a rate cut and dovish tone from RBNZ.
From technical perspective, 0.7300 level remain a valid resistance level, whereas on the downside 0.6970 level is providing support for now. So the best option would be to …
From technical perspective, 0.7300 level remain a valid resistance level, whereas on the downside 0.6970 level is providing support for now. So the best option would be to …
DAY 8 - NZDUSD ANALYSIS
There is mixed opinion among analyst, as far as RBNZ interest rate decision is concerned. Some analyst expect another rate cut this month due to weak inflation, while others are expecting no rate cut until next meeting which is scheduled in August, which will give ample time for RBNZ to assess upcoming economic data looking for signs of any improvement both in inflation and economic growth.
From technical perspective 0.7050 would be a good level to look for short opportunities with likely target…
From technical perspective 0.7050 would be a good level to look for short opportunities with likely target…
DAY 17 - NZDUSD ANALYSIS
Recent economic data from New Zealand remain stable and this week Global Dairy Trade Prices rose 2.6%. After prices declined in the first four auctions of 2016, there had been gains in four of the last six releases with tentative evidence that a bottom is in place. Prices, however, remain around 15% lower than the recent peak in September 2015 and over 50% lower than the prices prevailing in early 2014.
Since January 2016 NZDUSD slowly moving higher and the pair moved around 700 pips higher befo…
Since January 2016 NZDUSD slowly moving higher and the pair moved around 700 pips higher befo…
DAY 26 - NZDUSD ANALYSIS
Majority of analysts expect RBNZ to keep interest rate unchanged, however I am expecting dovish comments with regards to inflation and economic growth.
New Zealand's rolling annual inflation rate has been below 1 per cent for seven consecutive quarters. The Reserve Bank is mandated to set its monetary policy to keep inflation between 1 and 3 per cent with the focus on a mid-point of 2 per cent. At 0.2 per cent for the quarter and 0.4 per cent for the year to the end of March it was slightly high…
New Zealand's rolling annual inflation rate has been below 1 per cent for seven consecutive quarters. The Reserve Bank is mandated to set its monetary policy to keep inflation between 1 and 3 per cent with the focus on a mid-point of 2 per cent. At 0.2 per cent for the quarter and 0.4 per cent for the year to the end of March it was slightly high…
DAY 13 - NZDUSD ANALYSIS
Despite another rate cut by RBNZ last week NZDUSD didn't go down and instead some bullish reaction was seen after the interest rate announcement. Price retested an important resistance level at 0.6787 where we saw some selling interest. However, price action indicate a breakout of this resistance next week and a test of higher resistance at 0.6870.
DAY 5 - NZDUSD TRADE ANALYSIS
NZDUSD continues to decline over last few months mainly due to constant decline in dairy prices and dovish comments by RBNZ in last few meetings about interest rate cut.
Despite fundamental reasons suggest further decline on this pair, I have entered a long trade based on my technical analysis as price is testing daily demand zone at 0.6500. Will keep a close watch on this trade and see how the trade progress before NFP and as such will adjust take profit and stop loss target accordingly.
Despite fundamental reasons suggest further decline on this pair, I have entered a long trade based on my technical analysis as price is testing daily demand zone at 0.6500. Will keep a close watch on this trade and see how the trade progress before NFP and as such will adjust take profit and stop loss target accordingly.
DAY 5 - NZDUSD TRADE ANALYSIS
NZDUSD continues to decline over last few months mainly due to constant decline in dairy prices and dovish comments by RBNZ in last few meetings about interest rate cut.
Despite fundamental reasons suggest further decline on this pair, I have entered a long trade based on my technical analysis as price is testing daily demand zone at 0.6500. Will keep a close watch on this trade and see how the trade progress before NFP and as such will adjust take profit and stop loss target accordingly.
Despite fundamental reasons suggest further decline on this pair, I have entered a long trade based on my technical analysis as price is testing daily demand zone at 0.6500. Will keep a close watch on this trade and see how the trade progress before NFP and as such will adjust take profit and stop loss target accordingly.
DAY 13 - NZDUSD ANALYSIS
We have seen bullish reaction from the daily demand zone at 0.7320 and the price managed to breakout and close above broken support at 0.7420. There are two resistance levels, where I would be looking to enter short trade. First resistance is at 0.7535 which is daily supply zone plus SR flip level. The second one at 0.7740 is also an important resistance level. On the downside 0.7276 and 0.7188 are valid untested support levels.