The New Zealand dollar continues its ascent for the second consecutive session against the US dollar, resulting in the NZD/USD pair climbing to 0.6125.
This increase is attributed to recent US economic data indicating slower-than-expected growth in Q1, suggesting the possibility of an interest rate cut by the end of the year. The market is now focused on the upcoming release of the US Core Personal Consumption Expenditures report, a pivotal inflation measure for the Federal Reserve. The report's outcome could offer further insights into the Fed's future actions.
6070 is anticipated, with a potential breakdown of this level leading to a further decrease to 0.6002. The bearish scenario is technically supported by the MACD indicator, whose signal line is below zero and directed downwards. Notably, there is a significant divergence between the peaks on the chart and the indicator, which traders should monitor closely. On the H1 chart, after forming a downward impulse to 0.6088, a correction to 0.6137 may occur today.
RBNZ Technical Analysis Chartpatterns
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Zealand Dollar moves below 0.6150 ahead of Fed's Beige BookNZD/USD extended losses for the second successive session, trading around 0.6140 during the European hours on Wednesday.
Read more »
Australia and New Zealand sending planes to evacuate nationals from New Caledonia's unrestThe Australian and New Zealand governments say they are sending planes to evacuate their nationals from violence-scorched New Caledonia
Read more »
Australia and New Zealand sending planes to evacuate nationals from New Caledonia's unrestThe Australian and New Zealand governments say they are sending planes to evacuate their nationals from violence-scorched New Caledonia.
Read more »
New Zealand and Australia sending planes to evacuate nationals from New Caledonia's unrestNew Zealand and Australia sending planes to evacuate nationals from New Caledonia's unrest
Read more »
Australia and New Zealand sending planes to evacuate nationals from New Caledonia's unrestThe Australian and New Zealand governments say they are sending planes to evacuate their nationals from violence-scorched New Caledonia.
Read more »
Australia and New Zealand sending planes to evacuate nationals from New Caledonia's unrestThe Australian and New Zealand governments say they are sending planes to evacuate their nationals from violence-scorched New Caledonia.
Read more »