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Kiwidollar

Australian Dollar and Kiwi Strengthens As Risk Appetite ResumesOn Friday, the Australian dollar , along with its New Zealand counterpart, led improvements among major currencies in the FX market. The upsurge was due to the easing of geopolitical conflicts in the Mideast. Investors bought riskier currencies after the comparatively upbeat U.S. economic data this week, also promoting sentiment. Meanwhile, the greenback was firm against a basket of other currencies. Moreover, it is on track to record its best week in two months. The possibility of war in the Middle East subsided as the United States and Iran backed away from further conflict. In a statement, a currency strategist at Credit Agricole in London, Manuel Oliver, stated, “Risk sentiment is back to easing geopolitical tensions and hopes of an interim trade deal between China and the U.S. as early as next week.” Meanwhile, the Aussie added a third of a percent to $0.68755. Its strength diminished on escalating bets of an interest rate cut as early as February. The rate cut was due to weeks of bushfires that have cast a shadow over the stronger economy. Also, the Kiwi dollar inched up 0.2% to $0.6622. This week, the greenback has roughly outperformed the G10 FX. The information has also put a floor under a recent dwindling of interest rate differentials between U.S. and European bonds. The spreads between U.S. Treasuries and equivalent German debt for 10-year maturities were trading near 210 bps. National Australia Bank’s head of FX strategy, Ray Attrill, said, “There’s nothing fundamental to drive people out the U.S. dollar at this stage.” On the other side, the greenback increased by 0.6% versus a basket of its competitors. It is the most significant weekly upswing since early November. Moreover, it has held firm at 97.44 today. However, moves in other major currencies were moderate, with traders focusing on December job-market data. The consensus forecast expects 164,000 extra jobs in December, in the wake of a mega 266,000 counted in November. This week, the Chinese yuan is another robust performer that has climbed to a five-month high. The upsurge was despite the geopolitical turbulence, on rising optimism as the January 15 date for endorsing the Sino-U.S. trade deal nears. The currency last traded at 6.9315 per dollar in the foreign exchange market. Last month, U.S. President Donald Trump announced that the Phase 1 trade deal with China would receive signatures on January 15. However, on Thursday, according to some spokesperson, the deal could be signed “shortly thereafter.”
by Financebroker
NZD/USD was Underpinned After Better GDP DataNew Zealand Dollar is among the strongest majors following better than expected GDP growth. New Zealand GDP grew 0.7% qoq in Q3, above expectation of 0.5% qoq. Q2’s growth rate was revised sharply lower from 0.5% qoq to 0.1% qoq. Technically, the next direction of the NZD/USD next sessions is likely to be determined by trader reaction to the 61.8% Fibonacci level at 0.6567.A sustained move there will indicate the presence of buyers. Also on a daily chart we have confirmed bullish cross on 50-day SMA above 100-day SMA. So, we prefer the bullish scenario until the pair keep trading above 200-day SMA at 0.6531. The first upside target is 0.6666. In that area we have the upper boundary of the daily Bollinger Bands, the resistance line of the bullish price channel and 78,6% Fibo level. On downside, a clear break bellow 0.6567 will indicate that sellers have re-emerged. They are going to try to form a secondary lower top. If this move creates enough downside momentum then look for a break to the 11th Dec. low at 0.6522. Taking out this level will change the main trend to downward with 0.6497 the next major bearish target (50% Fibo). Take in mind, that additionally, details of the US-China trade relations and US President Donald Trump’s impeachment voting will also entertain investors. We're expecting to share with us your opinion in the comments bellow.
Long
by ForexTrendline
Can NZD Keeps its Gains Against USD? The New Zealand Dollar could be weakening on profit-taking and we can see a pullback into a support area at 0.6567, which is 61.8% Fibo retracement on the fall from 0.6790 to 0.6203. But the pullback from 4.5-month high could be temporary, cause on the daily chart we may have a bullish crossover of the 50- and 100-day SMAs. Once its confirmed, this should attracted the buyers. Additionally, NZD/USD printed a daily bullish engulfing candle yesterday, signaling the bullish momentum is not exausted yet. If the buyers pick up, the nearest bullish target is 0.6666 (78,6 Fibo level). In event we have a clear break there, this could extend the upside trend towards July 24 high at 0.6723. And of course don't forget to keep a close eye on fresh developments surrounding the US-China trade talks. In case sides fail to reach a deal and the US ends up hiking tariffs on Chinese imports on Sunday, the trade-sensitive kiwi could start erasing this week's gains. Bellow 61.8% Fibo the next support is around 0.65 - 0.6475.
by ForexTrendline
4
Decision Time for Kiwi BullsThe NZD/USD has been bullish since Monday’s strong rally was fueled by talk of fiscal stimulus to boost the New Zealand economy. The Kiwi was also boosted after an unexpected rebound in Chinese manufacturing raised hopes of a brighter outlook for the world economy. And now NZD is the strongest major of the week. Technically, NZD/USD’s 4-hour chart is reporting a bearish divergence of RSI. In addition the price is testing 61.8% Fibo retracement on the fall from 0.6790 to 0.6204 at 0.6566. The direction of the pair is likely to be determined by trader reaction to that level. In case of upside break we can see a test of the August top at 0.6588. This price is a potential trigger point for an acceleration to the upside with the first target coming in at 0.6666 (78,6% Fibo level). Take in mind that later today is US NFP figure. And a weaker U.S. Dollar (softer report) could also underpinning the Kiwi as well as steady demand for higher-yielding currencies. On opposite direction, a return again inside of the bullish channel and bellow 200-day SMA will signal the presence of sellers. The first downside target is at 0.6541.
by ForexTrendline
Kiwi to Fight Back? - NZD/USD Ichimoku Long Trade SetupThe kiwi has started to fight back a little here and is now attempted a kumo breakout. We are in the middle of a drawback to re-test our trend support at the kumo and tenkan sen. I am looking for support to hold for a chance to get long as we attempt to rise up and challenge previous price structure resistance. I've drawn out several partial take profit levels we can aim for along the way to our final price structure target. If we fail to hold support then this setup may become invalidated.
Long
by The808Trader
The Kiwi At Critical Stage: Will The Bulls Hold 60 Cents?Hello dear Forex friends, hope you're doing well guys! ;) The Kiwi is at a critical stage similar to the Aussie: We have only a few important levels left, before the 2008 financial crisis lows are lurking in the background. The Kiwi falling down to 60 Cents psychological would at the same time mean that we get oversold on the Weekly, which would be a great bouncing opportunity. Have fun watching! ;) Greets, Deniz from Edgy If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :) Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Long
by Edgy_
Navigating The Market : Simplified #AUD NZD 2nd Sept 19The AUDNZD had been in a bullish trend since price bounced off at 1.0280 on 6th August 2019. That bullish move day followed by a massive price expansion the vary next day (230 pips!) thanks to RBNZ cutting their rates from 1.25% to 1.00%. NZD had been in a massive sell off across the board since then. Retail sentiment on NZD however, remains bullish NZD. Indeed, retail sentiment is looking for that reversal- believing the marked have priced in the RBNZ move. Never a good idea. I am bearish on the NZD due to the following three things : 1) I am (trying) a contrarian trader. I generally look to trade the other side of the general retail sentiment. NZD is heavily bid in retail, so I am keen to be the in the other side (this is too simplistic and binary, I know. This is not the only parameter that influences my bias) 2) Simply look at the chart, we are in an uptrend. Stick a long term moving average there (50MA, 60MA, 67MA, 82MA, 86MA etc etc), price is trading well above that. It is tempting to trade reversal after a long trend, picking tops (and bottoms if its in a bearish trend). I am somewhat a trend following trader, discretionary. At the moment, its not the optimal time to think of shorting AUDNZD. 3) The monthly range and weekly range was reached and exceeded. Now, usually, when this happens I would shift my short term bias to a reversal mode - as liquidity "dries out" and it would the time for the banks to take profit but I believe it was due to the fundamental factor (RBNZ cutting rates), so I will maintain my sentiment bias for now. 4)I believe there will be liquidity run this week between 1.0700 to 1.07300. Plenty of potential retail buy stops there, oceans of them. Liquidity Pools are like magnets. My plan, since I am bearish NZD, is to long AUDNZD when the usual stop hunts have been completed. I expect a stop hunt (another form of liquidity run) at 1.06500-1.06350 in the downside and then I will find a trigger to long AUDNZD. Alternatively, if the price goes up first and tap around 1.0700, I would have to assume its for trapping breakout traders and then they will take their stoploss out at 1.06500-1.06350 - in which by then, I will be looking to long AUDNZD from there. If price continues through without touching the liquidity pool coincided at theFriday low, then I will stay on the sidelines and re-adjust my plan.
Long
by sufiansaid
5
“Kiwi” shows the dollar how to respond to rate cutsYesterday, several influencing decisions on easing monetary policy from the “echelon” were coming out of the Central Banks. In particular, New Zealand’s central bank cut interest rates a steep 50 basis points. The Reserve Bank of India also cut the rate by 0.35%, as well as the Bank of Thailand by 0.25%. As a result, The New Zealand Dollar has been depreciating in a descending channel pattern against the US Dollar (3%). That is, the New Zealand dollar shows American how to respond to monetary easing. In this light, it would be useful to recall that the US dollar, by and large, ignored the Fed rate cut last week. That is, it continues to develop the potential for a downward movement. So, its sales continue to be relevant and perspective in terms of earnings. Moreover, after the devaluation of the renminbi, Trump’s desire to devalue the dollar increased even more. According to Viraj Patel an ING strategist, the United States might conduct direct foreign exchange intervention by selling dollars from the Exchange Rate Stabilization Fund (ESF). And this is not the only option. The Fed may make currency interventions or may be the Ministry of Finance or both bodies at the same time, as it usually happened before. As for gold, the current mood is clearly on the buyers' side, as well as the general fundamental background (the next round of monetary easing by leading central banks). Also, the Central Bank of China is actively increasing physical gold purchases, creating additional demand for the asset in the market. Nevertheless, in our opinion, gold is too overbought and for now, we will refrain from buying it in the movement direction. Now, if we make purchases, then from extreme daily lows, but in general we begin to prepare for a correction and early gold sales. Today is not rich in important macroeconomic statistics, so there is every chance of continuing the development of current trends. As for our recommendations, we will continue to sell the dollar on almost the entire spectrum of the foreign exchange market. Pound purchases are still interesting to us in the long term, as are sales of the Russian ruble and oil.
Long
by Trade24Fx
NZDUSD Long (discount entry was during Asia last night) Hi all, here is NZDUSD, the discount entry was last night for this one! Managed to catch this with a pending order, targeting the next market structural high on the D1 as a swing trade. We could see a pullback to discount before the market rallies up.... still a nice position to hold. NZD interest rate decision could spike further volatility in this pair, which could result in a pullback to discount, a D1 Stop hunt, or trigger heavy buying power back up into further demand. One to keep an eye on.
Long
by Ben_Monck
8 - NZDUSD - FX Majors | Reversal & Impulse | July 2019NZDUSD labeled within a Double Three Bullish Correction, within a (W)(X)(Y) (pink). Patterns: - Intermediate (W) (pink) - Zig-Zag - Intermediate (X) (pink) - Bridge / False Break-out - Intermediate (Y) (pink) - Minor degree ABC (orange) sequence - Minor A (orange) - Leading Diagonal - Minor B (orange) - Regular Flat Minor C (orange) has started and about to finalize Minute i (green). After the correction in Minute ii (green), a sustained rally should unfold.
Long
by Lionheart-EWA