Kiwi looks to have put in a provisional bottom around 0.5570 and is grinding higher toward the 0.58 handle, a key resistance zone that could either cap this fifth wave or unlock further upside.
In this video, we look at how a weaker US dollar and a slightly more hawkish RBNZ are supporting NZD/USD, and why 0.58 is such an important decision point. We then map out the buy‑the‑dip zone for a potential continuation higher and the levels that would flip the script to shorts.
Key drivers
Primary idea: Look to buy the dip if price reacts lower from 0.58 into the 0.5690–0.5660 zone (between the 38.2% and 61.8% Fib of the latest leg and prior support), targeting 0.5910, 0.60 and potentially 0.61, while a break below ~0.5640 and the channel base would instead open the door to deeper downside and short opportunities.
Trading Kiwi here? Share how you’re planning to trade the 0.58 resistance and buy‑the‑dip zone in the comments, and follow for more macro‑plus‑technicals swing setups.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
In this video, we look at how a weaker US dollar and a slightly more hawkish RBNZ are supporting NZD/USD, and why 0.58 is such an important decision point. We then map out the buy‑the‑dip zone for a potential continuation higher and the levels that would flip the script to shorts.
Key drivers
- RBNZ recently cut by 25 bps but signalled the easing cycle is likely over, while new governor Anna Breman is perceived as relatively hawkish and focused on inflation, which helps underpin the Kiwi.
- Fed December cut odds around 85–90% after a run of softer US data keep the dollar under pressure, providing a tailwind for NZDUSD on rallies and pullbacks.
Primary idea: Look to buy the dip if price reacts lower from 0.58 into the 0.5690–0.5660 zone (between the 38.2% and 61.8% Fib of the latest leg and prior support), targeting 0.5910, 0.60 and potentially 0.61, while a break below ~0.5640 and the channel base would instead open the door to deeper downside and short opportunities.
Trading Kiwi here? Share how you’re planning to trade the 0.58 resistance and buy‑the‑dip zone in the comments, and follow for more macro‑plus‑technicals swing setups.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.