|Day's range||1.088 - 1.092|
|52-week range||1.05121 - 1.12627|
While six-week long descending trend-line continue restricting the AUDUSD’s near-term upside, the pair has to sustain its dip beneath the 0.7340 horizontal-support in order to revisit the recent low around 0.7310. In case the pair continue declining below 0.7310, the 61.8% FE level of 0.7255 could please the sellers. On the upside, a clear break of 0.7420 TL can trigger the pair’s recovery towards 0.7475-80 region, which if conquered could escalate the rise to 0.7510 and the 0.7550 resistances. Assuming that Bulls keep fueling the quote beyond 0.7550, the 0.7605, the 0. ...
New Zealand will be releasing its quarterly CPI later tonight. Forecasts point to a 0.5% increase in inflation during the second quarter. The New Zealand Dollar gained 0.07% on Monday morning, trading at 0.6772.
With an upward slanting trend-channel portraying the GBPAUD’s strength, the pair is likely to maintain its gradual advances in direction to the 1.8000 round-figure, with 1.7960 being immediate resistance to watch. Should prices rally beyond 1.8000, the 1.8015, the 1.8085-90 horizontal-barrier and the 1.8115, comprising channel’s upper-line, may grab market attention.
With four-month old descending trend-line restricting AUDUSD’s upside, the pair had no choice but to dip towards immediate TL support, at 0.7515 now, break of which could further drag it to 0.7470 & 0.7445 rest-points. In case if the pair continues declining below 0.7445, the 0.7410 may act as a halt during its plunge to 61.8% FE level of 0.7320. On the upside, the 0.7610 and the 0.7660, comprising aforementioned resistance-line, could limit the pair’s near-term advances, clearing which 0.7700 & 200-day SMA level of 0.7745 may gain traders’ attention. ...
Failure to surpass 0.7050-60 resistance-region during its recent rally couldn’t stop the NZDUSD from it’s another attempt to conquer the same barrier on Thursday, which if broken on a D1 closing basis could propel the pair towards 50-day SMA level of 0.7085 and then to the 0.7100 round-figure. If 0.7050-60 continue restricting the pair’s up-moves, the 0.7020, the 0.7000 and the 0.6975 are likely immediate supports to observe before highlighting the 0.6950-45 zone to look for the sellers. Alike NZDUSD, the EURNZD also struggles with near-term important resistance, here it is 1.6780-85 area, break of which becomes necessary for the pair to aim for 1.6825 and the 1.6880-90.
Having registered repeated bounces off the 0.6880-85 support-zone, the NZDUSD finally managed to clear the 0.7000 barrier; however, it isn’t a strong signal for the pair’s rally as 0.7030, 0.7055 and the 0.7095-0.7100 hurdles are still to conquer. Should prices surpass 0.7100 resistance-mark, the 0.7130, the 0.7160 and the 0.7200 can please the Kiwi optimists. On the contrary, pullback below 0.7000 can again drag the pair to 0.6960, 0.6935 and 0.6900 supports before highlighting the 0.6885-80 rest-area. Assuming the pair’s trading beneath the 0. ...
The AUD is going down again after taking a short break. The RBA meeting minutes did not affect the currency very much, as everything was quite clear beforehand. The Chinese stats were, on the contrary, very influential.
Due to diverging RBNZ and RBA monetary policies, the AUD/NZD has formed a strong uptrend breakout above the order block / MH3 confluence. Technically, if the price retraces to 1.0750-75 we should see another bounce towards 1.0876. However, another close above 1.0876 should provide a continuation towards 1.0926 and 1.0944. Around 1.0950 we might see short sellers coming as the M H5 is the strongest monthly resistance. Until then, buying the dip is the option.
Monetary policy is a complex and rather stuffy topic, yet it affects everyone, whether they understand it or not. Enter the new governor of the Reserve Bank of New Zealand, Adrian Orr, who took office in March. Orr wants the average New Zealander to understand how his central bank works, so the RBNZ unveiled a series of cartoonlike illustrations on the topic.RBNZ“Low interest rates will help support employment and raise inflation,” the central bank writes on its website.
If at all the RBNZ fails to propel the NZD, the pair can run down to 0.6900 and the 0.6870 but its further declines can be questioned by the 0.6815 mark. Should Bears refrain to respect the 0.6815, the 0.6780 and the 0.6750 are likely supports to appear on the chart.
Following its U-turn from 0.7805–0.7800 horizontal-resistance, the AUDUSD seems declining towards 0.7725-20 support test, but oversold RSI may confine the pair’s further downside, failing to which can highlight the 0.7700 and the 0.7670 rest-points. During the pair’s additional south-run beneath the 0.7670, the 0.7650 may become an important level to watch that if broken might not hesitate dragging the quote to 61.8% FE level of 0.7595. Meanwhile, an upside break of 0.7805 can trigger the pair’s recovery in direction to 0.7840 and then to the 0.7850-55. ...
With its sustained trading beneath 200-day SMA, the NZDUSD is likely to extend recent drop towards 0.7140 and then to the 100-day SMA level of 0.7120 unless it trades below the 0.7185 SMA figure. If prices continue declining after 0.7120, the 0.7070, the 0.7055 and the 0.7030-35 may become sellers’ follow-on targets. On the contrary, a daily closing beyond 0.7185 could help the pair to revisit the 0.7215 and the 0.7250 resistances ahead of confronting the 50-day SMA level of 0.7290. During the pair’s additional upside past 0.7290, a downward slanting TL figure of 0.7335 and the 0. ...
Successful break of short-term descending trend-line and an ascending trend-channel favors the AUDUSD’s further upside with 0.7900 being nearby resistance to counter prior to meeting the channel’s upper-line of 0.7930. In case if the pair disobeys channel formation by surpassing 0.7930, the 0.7985-90 horizontal-line seems crucial for buyers to watch, breaking which chances of the quote’s rally to 0.8045-50 can’t be denied. If the pair declines below 1.7595, the 1.7525 and the 1.7495, comprising 100-day SMA, are likely intermediate halts that it can avail prior to reigniting the importance of an upward slanting trend-line, at 1.7385 now.
AUDUSD’s gradual recovery from 0.7758 recently reversed from 0.7890 horizontal-line, which in-turn signals the pair’s pullback to 0.7850 TL support. Should the pair break 0.7850, the 0.7830 and the 0.7790 are likely intermediate halts that it can avail before re-testing the 0.7760-55 support-zone. Moreover, pair’s declines below 0.7755 can make it vulnerable to rest on the 61.8% FE level of 0.7710. Meanwhile, break of 0.7890 could escalate the pair’s up-moves to 0.7910 and then to the 0.7955-60 horizontal-region. If at all Bulls conquer the 0.7960, the 0.8000 round-figure and 0. ...
Even if an immediate ascending trend-line continue favoring the GBPNZD’s upside, month-long downward slanting TL, at 1.9075, could confine the pair’s immediate advances. Should the pair manage to surpass the 1.9075 barrier, it can rise to 1.9160 and then to the 1.9240; however, the 1.9260-65 horizontal-region could restrict the quote’s following north-run. In case if the prices rally beyond 1.9265, chances of witnessing 1.9350 and the 1.9415 on the chart can’t be denied. On the downside, the aforementioned TL support of 1.8970 and the 1. ...
The Australian dollar surprisingly jumped after yesterday’s rate hike from the US Federal Reserve and even held steady against the following monetary statement which raises the question, is there still genuine interest in the Aussie battler.
Hawkish RBA lifts the AUD and creates a nice trading opportunity on the AUDUSD. First of all, we do have a bounce from the up trendline. Next are the correction equality pattern and the iH&S formation. What is more, the price came back above the 38,2% Fibonacci and used that as the closest support. All that is very positive for the AUDUSD in the mid-term.
Past few months for the NZDUSD were pretty rough. Since the tops in July, the price declined almost 800 pips and in the middle of November made the new yearly lows. Since that, we are slowly recovering and actually, we can see a light in the tunnel. Luckily it will not be a train and the buyers will not get smashed again.NZDUSD Daily
NZD/USD Having registered pullback moves from the May-month low, the NZDUSD couldn’t clear the 0.6930 horizontal-line and is again declining towards 0.6880 immediate support. Given the pair drops below 0.6880, the 0.6840 may offer an intermediate halt before reigniting the importance of 0.6815-20 region comprising recent low, which was also tested in May 2017. If … Continue reading Technical Outlook Of NZD/USD, EUR/NZD, NZD/JPY & AUD/NZD: 02.11.2017
EURUSD instead of creating the Head and Shoulder pattern is rather aiming for the bullish flag formation. We are very close to creating a buy signal there. All is needed at this point is the breakout of the 1.184 resistance. Political uncertainty and better data from Australia helped the AUDNZD to surge higher. We broke … Continue reading Bullish Power on the EURUSD, AUDNZD and AUDUSD