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Trading Scenarios for NZD/USD

20 October 2017

There was a rather strong dynamics on NZD/USD yesterday. The currency pair had the most significant daily decline for the last several years. Kiwi fell by more than 150 points. The political uncertainty in New Zealand was the cause for this large drop.

A new coalition of the government has been formed in the country. The Labor Party integrated with the "New Zealand First" anti-immigration party. Their fusion gave the opportunity to beat the conservative National Party in the electoral competition. By the way, the last party had won the previous elections on September 23. Jacinda Ardern, the labor leader, has become a new governor of New Zealand.

I advise you to observe the release of the US real estate market statistics at 14:00 (GMT) today.

The technical pattern on the NZD/USD currency pair:

I think that the current NZD/USD price was affected by yesterday's political events in New Zealand.

There is usually a correction after sharp movements, that’s why I expect a bullish sentiment on this asset in the nearest future. The divergence of price and MACD appeared on the M30 timeframe. It is a strong reversal formation of the technical analysis.


I suggest buying the NZD/USD pair (with a trailing stop) after it fixes above the 0.70100 mirror resistance level. The profit can be taken at the 0.70500 level. The pair may move to 0.70850-0.71000 in the medium term.

Another trade idea. I also don’t exclude the opportunity of a possible NZD/USD drop. If it happens, I recommend selling Kiwi after it reaches the 0.69750 support level. The currency pair may reach 0.69250-0.69000



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

A dovish Reserve Bank of New Zealand (RBNZ) policy outcome this week, accompanied by a bloated NZD long positioning sees the kiwi breaking under a protracted...

25 Nov 2021

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...

9 Nov 2021

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?
NZD: Buy the Rumor sell the fact?

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...

14 Oct 2021

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
The Kiwi is falling

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...

6 Oct 2021

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