- Analytics
- News and Tools
- Market News
- NZD/USD Price Analysis: Bears are gathered near 0.6200
NZD/USD Price Analysis: Bears are gathered near 0.6200
- NZD/USD's 0.6200 guards a move higher with 0.6270 and 0.6300 eyed thereafter.
- Bears are lurking near 0.6200 as a key resistance area.
NZD/USD has tried to stabilise at the start of the week from a low of 0.6154 and has come up as high as 0.6168 so far in what could be the makings of a bullish correction for the opening balance.
On Friday, the US Dollar surged following the US inflation gauge that was stronger than expected. The core PCE deflator data as being the Federal Reserve's preferred measure of inflation resulted in investors to price in a 5.4% peak in the fed funds rate. This has seen the greenback move into corrective territories as follows:
Should the greenback tail off, then the Kiwi would be expected to move higher. The following shows the prospects of a retracement into the prior support that could act as a resistance on a re-test:
0.6200 guards a move higher and should the bears commit here, then a downside extension is feasible for the week ahead. However, a move beyond 0.6200 opens risk of a test into 0.6270 and 0.6300 thereafter.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
