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NZD/USD recovers on the back of US dollar weakness

NZD/USD has almost completely recovered since it hit 38.2% retracement of the November - January rally last week. Inflation Expectations came in firm but the U.S. dollar weakness is the main driver. If positive risk mood holds, the pair could be on the way to retest 0.75 and possibly beyond, to the highest level since 2015.
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RBNZ sent Kiwi tumbling

In an (un)surprising move, RBNZ cut the official cash rate to 2.25% from 2.50% and hinted on additional cuts which will depend on data. Reasons for the cut are weak global growth outlook, high exchange rate and declining inflation expectations.
Technically, the bank prevented Kiwi from rising above October and December highs, at least for now. After 150 pip fall, the pair is stalling ahead of confluence of 50, 100 and 200 DMA. 0.65 - 0.6550 is the next stronger support band to watch.
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fxsurprise8 avatar

yeah that 69 cents level looks very interesting

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al_dcdemo 11 Mar.

What can't go down will go up. :)

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Kiwi breaks below 0.65

Kiwi fell below 0.65 level and 61.8% retracement of the September 23th to October 15th upswing (~0.6490) yesterday. Slightly weaker inflation expectations report and anticipation of another weak dairy auction don't help it either.
If the pair stays below the above-mentioned levels, 0.6375 - 0.6400 may offer it some additional support. If the break proves to be fake, 0.6550 - 0.6600 will be the next resistance.
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FxAsmat 18 Nov.

Nice Analysis

al_dcdemo avatar
al_dcdemo 19 Nov.

Thank you!

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Sideways trading ahead

Currency Pair:Nzd/Usd
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 0.7549
Trend: downtrend (daily chart)
Possible trading range:0.72 - 0.77
Signals: The recent recovery has gained so far more than 400 pips having touched the lowest level not seen since 2011. The upward trip is getting closer to an end as long as a very strong resistance hovers at 0.77
Fundamentals: The latest fall in 2 years inflation expectations have slightly increased the near term risk of an RB…
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marius24 avatar
marius24 10 Mar.

update: Current price - 0.7256. THe pair has suffered in the last days due to a breakout occured around 0.753 from a rising wedge situated on the 4 hour chart. The price is very close to the bottom and therefore i anticipate a stabilization or even a recovery attempt in the sight.

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marius24 17 Mar.

update: Current price - 0.7333.It seems that NZd/Usd has bottomed out around the 0.71 level due to a less dovish RBNZ. THe statement was slightly positive and for the moment there are no more rate cuts on the horizon. I remain bullish on this pair

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marius24 24 Mar.

update: Current price - 0.7636. On the daily chart a massive double bottom has been recently broken to the upside at around 0.7613. THis pair seems in a bullish momentum and therefore my target has no chance to be hit in the following period

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marius24 31 Mar.

update: Current price - 0.7484. We have a strong support a little bit lower at 0.7440. Only a decisive break below this level might give a chance for my target to be touched. Let's see tomorrow what will happen.

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