News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 1.03% Gold: 0.69% Oil - US Crude: 0.45% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/VatqhgPncw
  • Heads Up:🇺🇸 Michigan 5 Year Inflation Expectations Final (JUN) due at 14:00 GMT (15min) Previous: 3% https://www.dailyfx.com/economic-calendar#2021-06-25
  • Heads Up:🇺🇸 Michigan Inflation Expectations Final (JUN) due at 14:00 GMT (15min) Previous: 4.6% https://www.dailyfx.com/economic-calendar#2021-06-25
  • Heads Up:🇺🇸 Michigan Consumer Sentiment Final (JUN) due at 14:00 GMT (15min) Expected: 86.5 Previous: 82.9 https://www.dailyfx.com/economic-calendar#2021-06-25
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.48% FTSE 100: 0.24% US 500: 0.19% Germany 30: -0.12% France 40: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/5bzIG5Y7hd
  • Useful thread on this morning’s US personal income and outlays data. https://t.co/NW4Q9juX1p
  • $GBPJPY resistance catch at the trendline really strong bounce m-w, though, almost 400 pips of run https://t.co/g71FxpU3sl https://t.co/saVCObuHoF
  • $USD pushing away from resistance on the PCE print https://t.co/jltu99sbHi https://t.co/ySncXCdR8c
  • Traders focus a lot of their energy on spotting the perfect time to enter a trade. While this is important, it is ultimately where traders choose to exit trades that will determine success. Learn about the three types of trading exit strategies here: https://t.co/muYkTNXH7s https://t.co/9tLAPMY4cU
  • 🇺🇸 Personal Spending MoM (MAY) Actual: 0.0% Expected: 0.4% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-06-25
New Zealand Dollar Outlook: NZD/CAD, NZD/CHF, NZD/JPY

New Zealand Dollar Outlook: NZD/CAD, NZD/CHF, NZD/JPY

Dimitri Zabelin, Analyst

NEW ZEALAND DOLLAR PRICE CHART, NZD/CAD, NZD/CHF, NZD/JPY – TALKING POINTS

NZD/CAD PRICE CHART

After breaking below the October 2019 uptrend, NZD/CAD has suffered an over-three percent loss. However, the pair’s bounce from multi-month lows suggests a recovery may be in the cards with selling pressure showing signs of exhaustion. NZD/CAD may seek to challenge resistance between 0.8499 and 0.8524, which if cleared with a daily close, could push the pair higher if it spurs bullish sentiment.

NZD/CAD – Daily Chart

Chart showing NZD/CAD

NZD/CAD chart created using TradingView

NZD/CHF TECHNICAL ANALYSIS

NZD/CHF is showing signs that it is bottoming out as it trades at five-year lows after declining more than 7.80 percent and trading below descending resistance. The pair is now eyeing formidable but familiar support-turned-resistance between 0.6165 and 0.6223. The pair’s short-term trajectory will likely be determined by how NZD/CHF interacts at the cross section between descending resistance and the multi-layered ceiling.

NZD/CHF – Daily Chart

Chart showing NZD/CHF

NZD/CHF chart created using TradingView

If the pair is able to crack both barriers with follow-through, renewed hope for further upside gains could catapult NZD/CHF until it encounters friction between 0.6386 and 0.6405. However, if confidence wilts in the face of the key intersection (labelled as “Alpha”) and the pair subsequently retreats, a bearish overhang may haunt NZD/CHF and a near-term recovery could become difficult to achieve.

NZD/JPY FORECAST

NZD/JPY may be gearing up for a comeback after showing signs of alleviated selling pressure and kindling interest on the part of buyers. Having said, upside gains may be capped by multi-tiered resistance between 69.897 and 70.030. However, if the pair is able to surmount this terrain, the next obstacle will be clearing the 71.044-71.493 ceiling where price action from before encountered several stalling points.

NZD/JPY – Daily Chart

Chart showing NZD/JPY

NZD/JPY chart created using TradingView

NEW ZEALAND DOLLAR ANALYSIS: WHAT COULD HINDER A RECOVERY?

The New Zealand Dollar’s cycle-sensitive nature and strong reliance on China’s economic activity makes it particularly vulnerable to the impact of the coronavirus on global growth and commodity demand. Consequently, if the fundamental outlook significantly deteriorates and falls below the baseline projection, inflamed RBNZ rate cut bets may pressure the New Zealand Dollar and cut the recovery against CHF, JPY and CAD short.

NEW ZEALAND DOLLAR TRADING RESOURCES

--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES