Although the cross traded to the lowest level in 39 months overnight, with the RBNZ monetary policy statement indicating that interest rates will remain at a restrictive level for some time, we have seen a strengthening in the NZD.
Later today we have the FOMC minutes. Looking at US10Y, it would indicate scope for a move to the downside in the correlated DXY (USD index)
This has resulted in the bias turning temporarily bullish NZD/USD.
From a technical perspective, we are building a cypher pattern known as a BAT formation. Currently, NZD/USD is moving lower within the BC leg. If the previous swing low of 0.5931 is not breached, the dip to the downside is regarded as temporary. A prime support level is located at 0.5944.
Conclusion: The fundamental outlook for the NZD is bullish. If we see a dovish stance from the FOMC minutes this evening, the negative USD bias should project NZD/USD higher through 0.5994 resistance. The BAT formation will complete at 0.6095.
Later today we have the FOMC minutes. Looking at US10Y, it would indicate scope for a move to the downside in the correlated DXY (USD index)
This has resulted in the bias turning temporarily bullish NZD/USD.
From a technical perspective, we are building a cypher pattern known as a BAT formation. Currently, NZD/USD is moving lower within the BC leg. If the previous swing low of 0.5931 is not breached, the dip to the downside is regarded as temporary. A prime support level is located at 0.5944.
Conclusion: The fundamental outlook for the NZD is bullish. If we see a dovish stance from the FOMC minutes this evening, the negative USD bias should project NZD/USD higher through 0.5994 resistance. The BAT formation will complete at 0.6095.
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这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。