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Kiwidollar

Kiwi to Sour? NZD/USD Ichimoku Short SetupI am looking and yet another drawback setup. The kiwi is in the middle of a drawback currently and I am watching to see if we get a push all the way back up to our flat kijun sen level. If we do, I'll look for a rejection to sell back down to our previous price structure lows. I've drawn my stop loss above the wick that I believe would disprove this setup idea, and I've drawn out some partial take profit levels to aim for as well. If we fail to push any higher or fail to show signs of rejection, this setup may become invalidated.
Short
by The808Trader
NZD/USD Asian Session Overview & Countertrend Trade IdeaReports of the death toll from the Wuhan coronavirus hitting the 100 marks against the 4,500 confirmed cases brought more bears to the markets’ yard today. And, with no major economic data on the chit, traders ran with the global risk sentiment for most of the Asian session. The prospect of reduced economic hit the Australian and New Zealand dollars, with the former seeing deeper losses as an Australian consumer survey hit a six-month low. Looks set for a retracement today’s U.S. durable goods report could also inspire some volatility in the next trading sessions. Bulls can take advantage of the support around today’s lows and countertrend on this major pair “retracement” until it finds fresh momentum. Countertrend trading isn’t for everyone but the reward-to-risk ratio is attractive if this major pair ends up back at the top of the channel.
Long
by Anatta0
NZD/USD - could climb higher for a retest of 0.67COT reports showing strengthening of NZD for some time, bringing the situation to almost neutral direction of the pair, possibly a range in the future. Based on weak DXY we want to see a push to the upside before going down to the lower band of the channel. Technically speaking, NZD/USD is trading at the middle band of the upside channel. We expect a short term push to the upside, retesting the 0.67 resistance and creating an M formation. We can start looking for longs now. However, if you want to take the conservative way, best entry is at retest of previous support, aligning with the 200 MA, 0.66- 0.658 liquidity area.
Long
by TradingExpertGroup
Australian Dollar and Kiwi Strengthens As Risk Appetite ResumesOn Friday, the Australian dollar , along with its New Zealand counterpart, led improvements among major currencies in the FX market. The upsurge was due to the easing of geopolitical conflicts in the Mideast. Investors bought riskier currencies after the comparatively upbeat U.S. economic data this week, also promoting sentiment. Meanwhile, the greenback was firm against a basket of other currencies. Moreover, it is on track to record its best week in two months. The possibility of war in the Middle East subsided as the United States and Iran backed away from further conflict. In a statement, a currency strategist at Credit Agricole in London, Manuel Oliver, stated, “Risk sentiment is back to easing geopolitical tensions and hopes of an interim trade deal between China and the U.S. as early as next week.” Meanwhile, the Aussie added a third of a percent to $0.68755. Its strength diminished on escalating bets of an interest rate cut as early as February. The rate cut was due to weeks of bushfires that have cast a shadow over the stronger economy. Also, the Kiwi dollar inched up 0.2% to $0.6622. This week, the greenback has roughly outperformed the G10 FX. The information has also put a floor under a recent dwindling of interest rate differentials between U.S. and European bonds. The spreads between U.S. Treasuries and equivalent German debt for 10-year maturities were trading near 210 bps. National Australia Bank’s head of FX strategy, Ray Attrill, said, “There’s nothing fundamental to drive people out the U.S. dollar at this stage.” On the other side, the greenback increased by 0.6% versus a basket of its competitors. It is the most significant weekly upswing since early November. Moreover, it has held firm at 97.44 today. However, moves in other major currencies were moderate, with traders focusing on December job-market data. The consensus forecast expects 164,000 extra jobs in December, in the wake of a mega 266,000 counted in November. This week, the Chinese yuan is another robust performer that has climbed to a five-month high. The upsurge was despite the geopolitical turbulence, on rising optimism as the January 15 date for endorsing the Sino-U.S. trade deal nears. The currency last traded at 6.9315 per dollar in the foreign exchange market. Last month, U.S. President Donald Trump announced that the Phase 1 trade deal with China would receive signatures on January 15. However, on Thursday, according to some spokesperson, the deal could be signed “shortly thereafter.”
by Financebroker
NZD/USD was Underpinned After Better GDP DataNew Zealand Dollar is among the strongest majors following better than expected GDP growth. New Zealand GDP grew 0.7% qoq in Q3, above expectation of 0.5% qoq. Q2’s growth rate was revised sharply lower from 0.5% qoq to 0.1% qoq. Technically, the next direction of the NZD/USD next sessions is likely to be determined by trader reaction to the 61.8% Fibonacci level at 0.6567.A sustained move there will indicate the presence of buyers. Also on a daily chart we have confirmed bullish cross on 50-day SMA above 100-day SMA. So, we prefer the bullish scenario until the pair keep trading above 200-day SMA at 0.6531. The first upside target is 0.6666. In that area we have the upper boundary of the daily Bollinger Bands, the resistance line of the bullish price channel and 78,6% Fibo level. On downside, a clear break bellow 0.6567 will indicate that sellers have re-emerged. They are going to try to form a secondary lower top. If this move creates enough downside momentum then look for a break to the 11th Dec. low at 0.6522. Taking out this level will change the main trend to downward with 0.6497 the next major bearish target (50% Fibo). Take in mind, that additionally, details of the US-China trade relations and US President Donald Trump’s impeachment voting will also entertain investors. We're expecting to share with us your opinion in the comments bellow.
Long
by ForexTrendline
Can NZD Keeps its Gains Against USD? The New Zealand Dollar could be weakening on profit-taking and we can see a pullback into a support area at 0.6567, which is 61.8% Fibo retracement on the fall from 0.6790 to 0.6203. But the pullback from 4.5-month high could be temporary, cause on the daily chart we may have a bullish crossover of the 50- and 100-day SMAs. Once its confirmed, this should attracted the buyers. Additionally, NZD/USD printed a daily bullish engulfing candle yesterday, signaling the bullish momentum is not exausted yet. If the buyers pick up, the nearest bullish target is 0.6666 (78,6 Fibo level). In event we have a clear break there, this could extend the upside trend towards July 24 high at 0.6723. And of course don't forget to keep a close eye on fresh developments surrounding the US-China trade talks. In case sides fail to reach a deal and the US ends up hiking tariffs on Chinese imports on Sunday, the trade-sensitive kiwi could start erasing this week's gains. Bellow 61.8% Fibo the next support is around 0.65 - 0.6475.
by ForexTrendline
4
Decision Time for Kiwi BullsThe NZD/USD has been bullish since Monday’s strong rally was fueled by talk of fiscal stimulus to boost the New Zealand economy. The Kiwi was also boosted after an unexpected rebound in Chinese manufacturing raised hopes of a brighter outlook for the world economy. And now NZD is the strongest major of the week. Technically, NZD/USD’s 4-hour chart is reporting a bearish divergence of RSI. In addition the price is testing 61.8% Fibo retracement on the fall from 0.6790 to 0.6204 at 0.6566. The direction of the pair is likely to be determined by trader reaction to that level. In case of upside break we can see a test of the August top at 0.6588. This price is a potential trigger point for an acceleration to the upside with the first target coming in at 0.6666 (78,6% Fibo level). Take in mind that later today is US NFP figure. And a weaker U.S. Dollar (softer report) could also underpinning the Kiwi as well as steady demand for higher-yielding currencies. On opposite direction, a return again inside of the bullish channel and bellow 200-day SMA will signal the presence of sellers. The first downside target is at 0.6541.
by ForexTrendline