EUR/USD 1.11815
0.293%
Gold 3227.11
1.083%
Oil 61.710
-0.070%
USD/JPY 145.220
-0.503%
GBP/USD 1.32970
0.163%
GBP/JPY 193.107
-0.339%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
May 19th news: After the adjustment of China-US tariff policies, not only manufacturing companies but also logistics companies have become busy. In the past few days, reporters visited some logistics and freight forwarding companies in Xiamen and learned that the current inquiries and bookings in the US market have increased significantly, and the shipment is about to enter the "peak period". The head of a logistics company in the Xiamen Free Trade Zone said that on May 12, the "China-US Geneva Economic and Trade Talks Joint Statement" was issued, and bilateral tariffs were adjusted accordingly. In just two days, the companys export declaration volume to the United States increased from about 30 tickets per day to more than 200 tickets per day.Japanese Finance Minister Katsunobu Kato: The government needs to maintain market confidence in Japanese government bonds.A U.S. House of Representatives panel approved Trumps tax cut bill, setting the stage for a possible vote this week.Japanese Prime Minister Shigeru Ishiba: Japans fiscal situation is worse than Greeces.Japanese Finance Minister Katsunobu Kato: If Japans finances lose market confidence, it may face rising interest rates, which will in turn affect debt repayment.

NZD/USD Price Analysis: Protects NZ Inflation-Induced Support Break; 0.6140 in Sight

Daniel Rogers

Apr 20, 2023 13:51

 NZD:USD.png

 

During the mid-Asian session on Thursday, NZD/USD bears maintain control at the lowest levels in five weeks while defending New Zealand (NZ) losses caused by inflation near 0.6160. This justifies not only the weaker-than-anticipated New Zealand inflation, but also the recent break of one-month-old horizontal support, which is now immediate resistance, as well as the bearish MACD signals.

 

As measured by the Consumer Price Index (CPI), the Reserve Bank of New Zealand (RBNZ) policy purists were unpleasantly surprised by New Zealand's (NZ) first-quarter (Q1) inflation. Despite this, the Quarter-over-Quarter change in the New Zealand Consumer Price Index (CPI) decreases from 1.7% and 1.4%, respectively, to 1.2%.

 

Following the publication of disappointing data, the NZD/USD pair breached a one-month-old horizontal support level, which is now acting as a barrier near 0.6170. The bearish MACD signals are now directing NZD/USD traders toward a horizontal support level that has been in place for 1.5 months and is located near 0.6140.

 

If the NZD/USD bears remain dominant above 0.6140, the 2023 low of 0.6085 cannot be ruled out.

 

The 200-day simple moving average hurdle of 0.6220 becomes crucial for NZD/USD investors to return.

 

If the NZD/USD pair remains above 0.6220, a run up to the previous weekly high around 0.6315 and then to the monthly high of 0.6386 cannot be ruled out.


Suggestion