FxWirePro
Short

Kiwi is weak on RBNZ rate cut speculation,good to sell on rallie

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
115 0 1
NZD/USD             is trading weak after release of weaker than expected employment data. The unemployment rate was at 5.8% compared to forecast of 5.5%, and in addition the figure for the preceding quarter was revised to the upside.

The Kiwi has been under some pressure since weaker employment data immediately triggered rate cut speculation. The RBNZ suggested only last week that it might loosen its monetary policy if demand and price pressures weakened.

Technically NZD/USD             is trading weak and any short term trend reversal can happen only above 0.7600. On the upside any break above 0.7600 will target 0.7640/0.76645.

The pair’s minor support is around 0.7470 and any break below will drag the pair further down till 0.743/0.7380 ( 61.8% retracement of 0.71596 and 0.7738).

Indicator (1 Hours chart)

CCI (50) - Sell

CCI (14) – Sell

Ichimoku- Sell

It is good to sell on rallies around 0.7535 for the target of 0.7385 with stop around 0.7600.

United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out