0.592
Today
+0.10%
5 Days
-1.01%
1 Month
+0.67%
6 Months
-0.36%
Year to Date
+2.79%
1 Year
+0.56%
Opening Price
0.592Previous Closing Price
0.591NZD/USD trades around 0.5910 on Monday, virtually unchanged on the day at the time of writing. The New Zealand Dollar (NZD) retains some support from improving Chinese activity data, but the move remains limited as investors prepare for the Reserve Bank of New Zealand (RBNZ) decision on Wednesday.
UOB Global Economics & Markets Research, led by economist Lee Sue Ann, now expects the Reserve Bank of New Zealand to raise the Official Cash Rate to 2.75% at the September meeting.
BNY’s Geoff Yu expects the Reserve Bank of New Zealand to deliver another 25bp hike to 2.75%, supported by elevated inflation and strong confidence data.
The NZD/USD pair gains momentum to near 0.5915 during the early European trading hours on Monday. Better-than-expected Chinese economic data provides some support to the China-proxy New Zealand Dollar (NZD) against the US Dollar (USD).
NZD/USD remains subdued for the second successive day, trading around 0.5910 during the Asian hours on Monday. However, the NZD/USD pair pares some of its daily losses as the New Zealand Dollar receives minor support following the release of China's NBS Purchasing Managers' Index (PMI) data.
• NZDUSD declined due to exhausted RBNZ hawkish expectations and softer domestic data. • A firm U.S. dollar gained support from resilient Treasury yields and Fed communications. • Technical indicators show neutral MACD and RSI readings with a buy Williams %R.
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.

The downside prevails as long as 0.5923 is resistance, with 0.5885 and 0.5874 as targets
above 0.5923, look for 0.5941 and 0.5952.
The downside prevails as long as 0.5923 is resistance, with 0.5885 and 0.5874 as targets
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