NZD/USD Price Forecast: Resumes the bullish trend and tests monthly highs around 0.5860
NZD/USD Price Forecast: Bulls await breakout above 0.5840-0.5845 confluence on weaker USD
NZD/USD Price Forecast: Holds below 200-day, bears target 0.5700
NZD/USD Price Forecast: Gathers strength above 0.5750, but remains below key technical resistance
NZDUSD currency pair recently reversed up from the support zone between the long-term support level 0.5600 (which stopped the strong downtrend d in November) and the lower daily Bollinger Band.
NZD/USD Price Forecast: Sticks to hawkish RBNZ-led gains to 0.5710-0.5715 confluence
The New Zealand dollar received the boost that normally accompanies a rate hike, but the rally quickly lost momentum. The Reserve Bank of New Zealand delivered a widely anticipated 25 basis point increase in the Official Cash Rate to 2.50%, yet investors stopped short of pricing a more aggressive tightening cycle.
NZD/USD Price Forecast: Faces pressure near 0.5700 in countdown to RBNZ policy
The NZD/USD exchange rate pulled back a bit on Tuesday, reacting to more weak US macro data, and as traders refocused on the upcoming Reserve Bank of New Zealand (RBNZ) interest rate decision. It retreated to 0.5693 from last week's high of 0.5725.
Last week's post-US NFP rebound has given NZD/USD some breathing room, but it has done little to convince traders that the recent downtrend has run its course. With the Reserve Bank of New Zealand set to announce its policy decision this week, the Kiwi now faces a catalyst that could determine whether the recovery develops into something more durable or simply marks another pause before sellers return.
NZD/USD Price Forecast: Rebounds above 0.5700, bears guard 0.5750
NZD/USD Price Forecast: Refreshes weekly high near 0.5725 as US Dollar weakens