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New Zealand Dollar / U.S. Dollar

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NZDUSD trade ideas

NZDUSD Wave Analysis 18 December 2024 - NZDUSD broke long-term support level 0.5770 - Likely to fall to support level 0.5500 NZDUSD currency pair earlier broke below the long-term support level 0.5770 (which acted as the lower border of the weekly sideways price range inside which the pair has been trading from the start of 2023). The breakout of the support level 0.5770 accelerated the active impulse wave C of extended downward ABC correction (2) from last year. NZDUSD can be expected to fall further to the next support level 0.5500 (former multiyear low from 2022 and the target price for the completion of the active impulse wave C).
Short
by FxProGlobal
New Zealand slides after Fed rate cut, NZ GDP nextThe New Zealand dollar has declined sharply on Wednesday. In the North American session, NZD/USD is trading at 0.5685, down 1.2% on the day. The New Zealand dollar has been in freefall, plunging 11.6% since Oct. 1. New Zealand's economy is expected to contract in the third quarter by 0.4% q/q, after a 0.2% decline in Q2. If the economy  contracted for back-to-back quarters as expected, it would mean that the economy is in a technical recession.  Construction and manufacturing activity declined in the third quarter and a severe power crisis led to a decrease exports, all of which dampened GDP. The Reserve Bank of New Zealand slashed rates by 50 basis points last month, lowering the cash rate to 4.25%. The central bank has trimmed rates by 125 bp since August but the economy is clearly in need of further cuts. Inflation is back within the target of 1% to 3% and we can expect another cut at  the next meeting in February barring a surprise jump in inflation. There wasn't much excitement around today's Federal Reserve meeting, as the market had priced in a quarter-point cut at close to 100%. This is exactly what happened, as the Fed cut rates for a third time this year. The Fed signaled that it expected to cut rates only two times in 2025, lower than previous projections of four rate cuts. With the US economy in solid shape and the downswing in inflation stalled, the Fed can afford to take its time before the next rate cut. The market will hear from Fed Chair Powell shortly. Powell could reiterate that the Fed plans to cut rates "gradually", which means modest cuts of 25 basis points. NZD/USD is testing support at 0.5715. Next, there is support at 0.5665 There is resistance at 0.5801 and 0.5849
by OANDA
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Long
by Thief_Trader
2
BULLISH NZDUSD PREPARING FOR FLASH PMI TOMMOROW From a technical standpoint, The NZDUSD remains firmly entrenched in a bearish trend. The pair is nearing critical support at the 0.5740 level which is seems ti have been breached and could possibly pave a further decline. The NZD/USD pair extended it's downward trajectory on Friday thereby retesting very interersting zones that helped me come up with this analysis. The sustained weakens in the NZDUSD reflects a combination of factors including a dovish stance by the Reserve bank of NZ persistant concerns over China's economuc recovery and robust USD supported by shifting federal reserve monetary policy expectations. This particular analysis I'm cutting corners looking for bullish sentiments based on tomorrows PMI DATA. The NZDUSD pair has been left at the mercy of a broader market sentiment and traders appear reluctant to take aggressive positions ahead of the upcoming FOMC meeting this week. The meeting is expected to provide further insight into Fed's policy outlook and could potentially influence the pair's trajectory in the near term hence the bullish outlook I'm looking to get inside buy positions Trade recommendation BUY NZDUSD SL 0.575336 TP 1 - 0.577769 TP 2 - 0.578698 TP 3 - 0.579761
Long
by XAUSEER
Let’s Get Kiwi with It: Time to Long NZD/USD!remember that trading is like a box of chocolates, you never know what you're gonna get. So, let's dive in: Interest Rate Differentials: The Reserve Bank of New Zealand (RBNZ) and the US Federal Reserve may have different stances on interest rates. If the RBNZ is expected to raise interest rates or the US Federal Reserve is expected to lower them, this could lead to an appreciation of the NZD/USD pair. It's like a seesaw, when one goes up, the other goes down. Unless it's broken, then you're just sitting on the ground. Economic Indicators: Economic indicators such as GDP growth, unemployment rate, inflation, and consumer sentiment can influence the exchange rate. If the New Zealand economy is expected to perform better than the US economy, this could lead to an appreciation of the NZD/USD pair. It's like a race, and right now, the Kiwi bird might just be wearing the running shoes. Commodity Prices: New Zealand is a major exporter of commodities, especially dairy products. If milk prices are expected to rise, this could lead to an appreciation of the New Zealand dollar. So, if you see a cow, thank it for potentially boosting your profits. Political Risks: Political events and policy changes can influence exchange rates. If there are political risks in the US that are expected to negatively impact the US economy or if there are positive political developments in New Zealand, this could lead to an appreciation of the NZD/USD pair. Politics, am I right? It's like a soap opera but with potentially more drama. Market Sentiment: Market sentiment can influence exchange rates. If traders are bullish on the New Zealand dollar or bearish on the US dollar, this could lead to an appreciation of the NZD/USD pair. Remember, the market is like a party. You want to join when everyone is having fun, not when everyone is leaving. Technical Analysis: The NZD/USD pair may be at a key support level, and a reversal pattern may be forming. If the pair breaks above this level, it could signal a move upwards. It's like reading tea leaves, but instead of predicting your future love life, you're predicting currency movements. Remember, these are potential reasons and the actual movement of the NZD/USD pair will depend on a variety of factors. It's important to conduct thorough research and consider the potential risks before making a trading decision.
Long
by FtradeFXArabic
NZD/USD Bears Remain in ControlSince early October, sellers have largely taken control of the NZD/USD (New Zealand versus the US dollar) and sent price to lows not seen since late 2022, with limited pullbacks seen. Overall, the currency pair is down nearly 10% from October highs. Ichimoku Resistance Supporting Sell-On-Rally Setups What is technically important to recognise is that the current downtrend remains supported by the area formed between the Ichimoku’s Conversion Line (blue at US$0.5830) and Base Line (red at US$0.5892). Consequently, as long as the pair continues to explore lower levels, any pullback will likely prompt traders to closely monitor price action for signs of bearish intent from within the aforementioned area. Adding to the bearish outlook for the NZD/USD, in addition to the 200-day simple moving average (US$0.6050) rotating lower, and price crossing south of the line in early October, it is clear that the Ichimoku’s Leading Span A (light green at US$0.5861) crossed below the Leading Span B (light orange at US$0.6012). This provides a bearish signal and helps establish another resistance area that investors will watch closely should a deeper pullback come to fruition: the Ichimoku Cloud. Price Direction? With the downtrend clear, should a pullback to resistance at US$0.5816 materialise – which, at that point, will likely line up with the resistance area between the Ichimoku’s Conversion/Base Lines – this could be an area that sellers are drawn to.
Short
by FPMarkets
OPPORTUNITY FOR BUY NZDUSDWe have these indicators for BUY opportunity: - Support from a Year low level - Low volume to continue the current direction - Reflection from the bottom of the parallel channel - retest 6 Month low and 3 Month low We define 3 goals: TP 1 = 40 pips TP 2 = 100 pips TP 3 = 200 pips SL = -200 pips Note: As we can see, this is the first opportunity as a reflection from the parallel channel. Due to fundamental news, there may be one more opportunity in another parallel channel. Please consider this in your trades.
Long
by FXstrong
5