0.578
Today
-0.53%
5 Days
-1.66%
1 Month
-1.15%
6 Months
+0.22%
Year to Date
+0.43%
1 Year
-2.79%
Opening Price
0.581Previous Closing Price
0.581
The downside prevails as long as 0.5791 is resistance, with 0.5749 and 0.5739 as targets
above 0.5791, look for 0.5807 and 0.5817.
The downside prevails as long as 0.5791 is resistance, with 0.5749 and 0.5739 as targets
NZD/USD extends its decline on Monday, trading around 0.5770 at the time of writing, down 0.72% on the day.
Brown Brothers Harriman’s (BBH) Elias Haddad highlights that New Zealand Q2 Gross Domestic Product (GDP) is expected to slow sharply, with domestic demand weighed by higher fuel prices, uncertainty and falling house prices, though leading indicators suggest Q3 recovery.
The NZD/USD pair meets with fresh supply at the start of a new week and drops to its lowest level since July 29, around the 0.5780 region during the early European session. Moreover, the fundamental backdrop suggests that the path of least resistance for spot prices remains to the downside.
NZD/USD falls after registering modest gains in the previous day, trading around 0.5780 during European hours on Monday. The pair depreciates as the US Dollar (USD) gains support amid aggressive Federal Reserve (Fed) rate-hike bets for Wednesday’s decision following hotter US inflation reports.
• RBNZ's cautious guidance reduced interest rate support for the New Zealand dollar. • Persistent US inflation and elevated Treasury yields strengthened the greenback. • Chinese economic headwinds and technical selling further pressured the Kiwi currency.
The NZD/USD pair tumbles to around 0.5790 during the early Asian trading hours on Monday. The New Zealand Dollar (NZD) weakens against the US Dollar (USD) on a dovish hike from the Reserve Bank of New Zealand (RBNZ).
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
This feature includes nine of the commonly used technical indicators: MACD, RSI, KDJ, StochRSI, ATR, CCI, WR, TRIX and MA. You may also adjust the timeframe depending on your needs.
Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.
