It's the first trading day of a new month, and hopefully a period where we can start putting a little more faith in market signals than we've been able to over the past week. Quarter-end flows have muddied the waters across markets recently, making it difficult to know whether moves can be trusted.
NZD/USD Price Forecast: Recovery faces resistance at 0.5700
NZD/USD Price Forecast: New Zealand Dollar holds near 0.5650 as bearish bias holds
NZD/USD Price Forecast: New Zealand Dollar holds losses near 0.5650 amid bearish bias
NZD/USD Price Forecast: RSI flashes oversold as the pair hovers near seven-month lows
NZD/USD Price Forecast: New Zealand Dollar falls to near 0.5650 as bearish bias prevails
The US dollar continues to grind higher overall, as we see plenty of dollar strength continuing. At this point, the market seems to be a little stretched, but still looks like most people favor the greenback.
New Zealand Dollar has emerged as one of the weakest major currencies this week, with NZD/USD breaking to a multi-month low as a combination of global risk aversion, broad-based Dollar strength, and rapidly fading expectations of near-term Reserve Bank of New Zealand tightening weigh heavily on the currency. The selloff has accelerated notably in recent sessions, reflecting a sharp reversal from the narrative that supported Kiwi during April and May.
NZDUSD currency pair recently broke the key support level 0.5685 (which stopped the previous impulse wave С at the start of April, as can be seen below).
NZD/USD Price Forecast: Kiwi tests YTD lows at 0.5683 in cautious markets
NZD/USD drops to fresh low since April vs bullish USD amid hawkish Fed, Iran uncertainty
Intraday analysis covering NZDUSD , XAGUSD Analysis, and NAS 100, highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets. NZDUSD continues choppy downturn The Kiwi failed to recoup the losses incurred over most of last week.