Nz aud forex
The NZD ends the week lower on against the Australian dollar. With a new 5 month low its surprising to see the pair back above 0.
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Looking further out a recover back toward the 0. After a low of 0. All the action should remain off shore this week and we expect this pair to remain side-lined.
We continue to believe the 0. Australian data later this week in the form of Retail Sales will be key. New Zealand dollar weakness, on the back of the coalition announcement, helped to drive this pair all the way down to a low of 0. That data, which printed softer than forecast, triggered a quick reversal from those lows as the Australian dollar then saw sharp selling pressure.
The cross bounced around 1 cent before settling around the 0. We believe a low has probably been put in place for this move and a broader recovery toward 0. The NZD is still holding on this cross around the 0. A good dairy auction could see 0. The New Zealand dollar has staged a solid recovery from 0.
Providing there are no shocks in coalition talks, the NZD looks to take a crack at the 0. The New Zealand dollar is now around 0. Given the post-election moves we favour the AUD on this cross but look for a 0. This pair has also whippy trading this week as the New Zealand dollar has enjoyed a good bounce from 0. The New Zealand dollar is now at 0. This cross is finding it hard to sustain moves into the 0. We believe the NZD is looking a little cheap on this cross, but uncertainty around the upcoming election will limit any near term recovery.
The New Zealand has been very choppy against its Australian cousin. The high for the week on this cross has been up at 0. The NZD has looked oversold on this cross and it may be trying to form a base. The NZD continues to suffer against the Australian dollar. It has been down to 0. It is now back at 0. A very data heavy for the Aussie this week may also have an effect. Not a good week for the New Zealand dollar on this cross after 0.
It continues to look soft against the Australian dollar with election uncertainty now becoming more apparent. The New Zealand dollar has been knocked around against the Australian dollar and continues to look weak. It should hold around current levels for the next day or so. The immediate risk remains to the downside, however we still look for a base to form around the 0.
The New Zealand dollar has traded softly against the Australian dollar this week, dropping from the 0. It is now holding on grimly at 0. That being said, there seems little fundamental reason for the pair to continue to trend significantly lower and re believe the current levels off good value for those looking to convert AUD to NZD. The New Zealand dollar has been in a 0. There is not much data for NZ or Aussie this week. We expect the pair to hold around current levels and an eventual move to threaten 0.
A break below 0. The New Zealand dollar is softer against the Australian dollar, back at 0. It is too early to tell for sure but looks as if the NZD may have formed a bottom and we will gradually grind higher over next week.
A break back and hold over 0. We still see solid support around the 0. The New Zealand dollar is higher at 0. We still view any dips toward or below 0.
The New Zealand dollar is currently around 0. There is good support around the 0. Longer term, we still favour the NZD against the Australian dollar but the current trend is weaker and it will likely remain soft over the coming sessions. We view the current level, or any potential further weakness, as a good opportunity for those who are looking to transfer AUD to NZD. The New Zealand dollar has broken down on the lower side of the range and is currently around 0.
The pair should hold above 0. Direction after that will depend on the tone of the RBNZ statement. The New Zealand dollar has remained in the narrow 0.
Although we have seen slightly disappointing Australian data this week along with a strong NZ trade balance, action in this pairing has largely been driven by volatility in the wider market. With overall direction lacking at the moment we can expect more of the same in the near term. Topside resistance comes in around 0. There is minor support around 0. Positive comments from Finance Minister Joyce certainly helped the move and it now leaves near term direction a little undecided.
We do favour the downside been tested again over the coming week, but after such a strong recovery sellers will be a little more cautious. I would expect resistance around 0. That data will be the highlight from an otherwise light economic calendar. For much of this week the New Zealand dollar has simply been outperformed by its Australian cousin. The pair traded to a low of 0. That being said, our view is that the pair could easily make a medium term low somewhere between 0.
The Australian dollar outperformed the New Zealand dollar last week helping to drive the cross rate down to the 0. The focus remains on the downside and a test of support around 0. In that case the target would quickly move to 0. The Australian dollar has actually been the standout performer over recent days helped by some better than forecast data and rising gold prices.
I suspect however the much of the recent gains in the AUD are been driven by changing interest rate expectations. Forecasters who had been suggesting the next rate move from the Reserve Bank of Australia RBA was likely to be an interest rate cut, are now revising their outlook to are more stable interest rate forecast and the currency is therefore getting revalued on that basis.
The broad parameters of 0. The past month has seen the New Zealand dollar trapped within a 0. The market is currently sitting bang in the middle of the range around 0. Both central banks are on hold until next year, when we believe they will both eventually hike rates. We believe a move back below 0. This pair has ended the week better than we expected with the New Zealand dollar now knocking on the door of 0.
A look at 0. We expect the RBA to hold firm, but the wording of the statement will be closely examined for any hint of a change towards a hawkish tone. The NZD ends the week lower on against the Australian dollar. It is down around 0. The fundamentals are still supportive of the NZD. Softer than expected NZ GDP data combined with a positive Australian employment report yesterday to pressure this pair.
The New Zealand dollar has spent close to two weeks ranging above 0. A period of Australian dollar outperformance may well push the pair back down toward 0. Key resistance comes in around 0. The New Zealand dollar is again easier on this cross as the AUD has regained some ground over the past week.
Itis now at 0. Solid resistance just above 0. The New Zealand dollar has been dominant on this cross breaking into the 0. It is possible for a move into the 0. It has eased back to the 0. NZ fundamentals remain supportive and outweigh the more negative Aussie economic fundamentals.
Further detrimental Chinese data will weaken the AUD on this cross. Get a quote Apply for an account. Apply for obligation free account and currency commentary. Apply for an account. October 2nd 2: September 28th 2: September 25th 2: September 21st 2: September 18th 2: September 14th 2: September 11th 2: September 7th 2: September 4th 2: August 31st 2: August 28th 2: August 24th 2: August 21st 2: August 17th 4: August 14th 4: August 10th 4: August 7th 3: August 3rd 3: July 31st 3: July 27th 3: July 24th 3: July 20th 3: July 17th 3: July 13th 5: July 10th 3: July 6th 3: July 4th 3: June 29th 3: June 26th 3: June 22nd 3: June 19th 3: June 15th 2: June 12th 2: June 8th 2: June 5th 3: June 1st 3: May 29th 3: May 25th 2: May 22nd 2: May 18th 2: May 15th 2: May 11th 2: May 8th 3: May 4th 2: May 1st 4: April 27th April 24th April 20th 2: April 17th 3: April 13th 2: This will be a 2 way trade, but for both i will wait for confirmation first before entering a trade.
On the right i want to see that resistance break first before going long. On the coming week what is see is that Audnzd is gonna shoot long until 1. It is forming lower degree correction watch that correction breakout and sell that for downside.
Add more on this pair during the RBNZ rate decision on bearish rallies. Good Luck Please support the setup with your likes, comments and by following on TradingView thanks. The price broke the TL and retesting now with a bearish pin bar, expected that the AUD is heading down targeting 1. Stochastic 89,5,3 is also approaching support and we might see a I see the opportunity to BUY AUDNZD since it has been down for a while now it is starting to reverse which is up trend I'm not sure whether it is going to be up up up but i think the target will be around 1.
I come in and out of aussie nzd day trades alot but this pair has been making the slow and steady churn to all year and make an excellent pullback before summertime. With the aussie strength I am leaving this and am recently added with the basket trades on aussie usd, audcad, euroaud short and pound aud short.
I recommend aussies for beginners and do that Chart and candlestick patterns formed: In this process, the minor trend has been spiking through rising channel pattern. Let us know which currency you would like to make a transfer with and we'll let you know when it becomes available.
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