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NZD/USD: in anticipation of the meeting of RBNZ

10 June 2015

Current trend

Awaiting the meeting of the RBNZ at 00:00 (GMT+3) on Thursday, market participants express different opinions about the monetary policy and the decline rate in the interest rates in New Zealand. Even if the interest rate does not lowered on Thursday, a tendency to soften monetary policy by the end of the year is likely to continue.

The pair is moving in the overall weekly downtrend. Over the last month the pair has lost more than 500 points. However, the pair is supported by the difference between interest rates of the USA and New Zealand. The rise in the pair will be restricted by the soft monetary policy of the RBNZ, low prices for dairy products and also by the intention of the US Fed to raise interest rate before the end of this year.

Support and resistance

In case of breakdown of the support level of 0.7100 (ÅÌÀ200 on the monthly chart), downtrend in the pair NZD/USD will continue in the medium-term. On the daily and four-hour charts the indicators OsMA and Stochastic give signals for the long positions; however, this will be the correction within the overall downward movement.

Resistance levels: 0.7220, 0.7255, 0.7300 and 0.7385.

Support levels: 0.7150, 0.7080, 0.7050 and 0.7000.

Trading tips

It is recommended to open short positions at the current price and from the levels of 0.7255 (ÅÌÀ144) and 0.7300 (ÅÌÀ200 on the four-hour chart). In case of breakdown of the level of 0.7310 and if this will be the closing level of the day, long positions can be opened with the targets of 0.7385, 0.7450, 0.7550 and 07600.



Scope for dips towards the 0.6793-0.6776 confluence zone
Scope for dips towards the 0.6793-0.6776 confluence zone

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NZD/USD struggles for direction, flat-lined above mid-0.7100s
NZD/USD struggles for direction, flat-lined above mid-0.7100s

The NZD/USD pair seesawed between tepid gains/minor losses through the early part of the European session and was last seen trading in the neutral territory...

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Move beyond 50% Fibo. sets the stage for further gains
Move beyond 50% Fibo. sets the stage for further gains

NZD/USD gained strong traction for the fifth consecutive session on Tuesday. Sustained break through the 0.7100 confluence hurdle favours bullish traders...

19 Oct 2021

NZD: Buy the Rumor sell the fact?
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The RBNZ confirmed a 25-basis-point rate raise, which had been widely anticipated and already factored into the markets. The NZD, however, did not benefit from the boost...

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NZD/USD pares intraday gains, up little around 0.6915-20 area
NZD/USD pares intraday gains, up little around 0.6915-20 area

The risk-on impulse provided a modest boost to the perceived riskier kiwi on Thursday. Hawkish Fed expectations acted as a tailwind for the USD and capped gains for the pair...

7 Oct 2021

The Kiwi is falling
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NZDUSD is being sold after the RBNZ meeting. The New Zealand Dollar is falling against the USD. The current quote for the instrument is 0.6880. During its October meeting...

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