NZDUSD Targeting A Test of 0.6300
Technical & Trade View
NZDUSD
Trade View
Bias: Bullish Above Bearish below .6050
Technicals
Primary support is .6050
Primary upside objective .6300
Next pattern confirmation, acceptance above .6210
Failure below .6030 opens a test of .5950
20 Day VWAP bullish, 5 Day VWAP bullish
Institutional Insights
Analysts at Credit Agricole note ‘The RBNZ’s aggressive tightening cycle will see NZ lead the rest of the G10 into an economic slowdown, and falling dairy prices on the back of a weak China economy are seeing the NZD underperform. The re-opening of the international border will be a positive for the coming 3M. Soft economic landings locally and internationally will improve the NZD’s prospects over the coming 6-12M’
NZDUSD
Trade View
Bias: Bullish Above Bearish below .6050
Technicals
Primary support is .6050
Primary upside objective .6300
Next pattern confirmation, acceptance above .6210
Failure below .6030 opens a test of .5950
20 Day VWAP bullish, 5 Day VWAP bullish
Institutional Insights
Analysts at Credit Agricole note ‘The RBNZ’s aggressive tightening cycle will see NZ lead the rest of the G10 into an economic slowdown, and falling dairy prices on the back of a weak China economy are seeing the NZD underperform. The re-opening of the international border will be a positive for the coming 3M. Soft economic landings locally and internationally will improve the NZD’s prospects over the coming 6-12M’
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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