|Day's range||0.731 - 0.735|
|52-week range||0.6792 - 0.7559|
The New Zealand dollar has rallied a bit during the day on Monday, as we continue to churn to the upside. The US dollar has been soft as of late, and as the Americans came on board, it looks as if they are going to continue to sell the greenback.
There are no major economic reports today in the U.S., Australia or New Zealand so the price action is likely to be driven by fresh U.S. political developments over the government shutdown.
The NZD/USD consolidation has just broken above the retracement trend line and D H3 camarilla level at 0.7288. The pair has been in a steady uptrend since December 2017, and 0.7305 could be the next target. Breakout of 0.7305 or 4h close above it and the famous “kiwi” could go to 0.7330-50. As long as it stays above 0.7240, the intraday trend is bullish.
Quarterly New Zealand consumer inflation is expected to come in at 0.4%, down from the previously reported 0.5%.
The New Zealand dollar has rallied again this past week, for the sixth candle in a row. By doing so, we have gotten a bit overextended, at least in the short term. We approach the area above with caution.
Hawkish Fed speakers, rising Treasury yields and upbeat U.S. economic data have not been able to stop the rallies by the Australian and New Zealand Dollars.
The Kiwi rose early in the session, but posted its second higher-high, lower-close in four sessions, suggesting the currency may be at or near overbought territory.
The New Zealand dollar has been bullish during the week, breaking above the 0.72 level. We continue to see the US dollar struggle in general, so that helps the New Zealand dollar, obviously. There is a lot of noise just above though, so a pullback would make a bit of sense.
The catalyst behind the surge in the Australian Dollar is a better-than-expected retail sales report.
If we observe the NZDUSD’s recent up-moves, it can be known that the five-month old descending TL, at 0.7185 now, isn’t the only barrier that the pair has to clear in order to justify its strength as the 0.7205-10 horizontal-region is another resistance that may confine its north-run. As a result, the quote has to offer a daily closing beyond 0.7210 should it aim to mark 0.7250 on the chart else chances of its comeback to short-term ascending trend-line support of 0.7130 can’t be denied. In case if the pair declines below 0.7130, the 0.7100, the 100-day SMA level of 0.7055 and the 0. ...
The catalyst behind the price action today will continue to be the interest rate differential between government bonds.
The Australian and New Zealand Dollars are trading mixed shortly after the U.S. opening. Lower gold prices are hurting the Aussie while the Kiwi continues to rise on aggressive short-covering and optimism over the appointment of a potentially hawkish new Reserve Bank of New Zealand Governor. At 1239 GMT, the AUD/USD is trading .7830, down 0.0010 or -0.13% and the NZD/USD is at .7183, up 0.0009 or +0.12%.
Aussie and Kiwi investors will be monitoring the price action in key commodities such as gold and copper. Both may feel pressure if these two markets weaken.
We know all the previous resistance areas so we can anticipate where the rally could begin slowing, but it doesn’t make sense to stand in the way of a momentum driven rally.
The New Zealand dollar gapped higher at the open of the week, but then turned around to find bearish pressure. We ultimately found support though, and at the end of the week, it looks as if the New Zealand dollar continues to be somewhat bullish.
Considering the NZDUSD’s sustained trading above 200-day SMA, it seems that the pair is capable enough to confront the downward slanting trend-line, stretched since late-July, at 0.7200 now. However, overbought RSI might trigger the pair’s pullback around then, failing to which can further propel the quote towards 0.7245 and 0.7275 resistances. Should prices continue rising after surpassing 0.7275, the 0.7300 and the 0.7370 are likely landmarks that can be targeted. Meanwhile, the 0.7130, the 200-day SMA level of 0.7100 and the 0. ...
The New Zealand dollar fell initially during the trading session on Wednesday, but found enough support near the 0.7075 level to turn around and rally a bit. I think we are continuing to go back and forth, and I believe that the volatility is something that we are going to see between now and Friday.
First cracks start to appear on the anti USD trend. The biggest correction can be so far seen on the NZDUSD. The price is approaching a combination of three important supports and that actually creates a good occasion for the bulls, to buy this pair with the better (lower) price. What are those supports? First one is the horizontal one on the 0.705. The second one is the long-term up trendline and the third one is a correction equality pattern.
Buyers backed off into the close as investors began preparing for this week’s slew of major U.S. economic data including the Fed minutes on Wednesday.
This Aussie and the Kiwi will continue to be driven mostly by the movement in the U.S. Dollar. A weaker dollar will be bullish for commodities and thus, commodity-linked currencies.
The New Zealand dollar had a productive week, as we broke above the 0.70 level, and then tested the 0.71 level after that. Ultimately, it looks as if we are in the middle of consolidation, and therefore I think it makes sense that we continue to the upside.
The New Zealand dollar rallied initially during the trading session on Friday, but pulled back to give back almost all the gains. Because of this, we are currently sitting at the 0.71 level.
The key issue at the start of the new year will be how long the Aussie and the Kiwi can sustain their current rallies given official U.S. interest rates are almost certain to move above Australia’s and New Zealand’s next year.
The New Zealand dollar rallied a bit during the trading session on Thursday, reaching towards the 0.71 handle. We pulled back slightly, but it looks as if the market is ready to continue to go much higher.