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NZD/USD: Head and shoulders points to more kiwi weakness
- The NZD/USD pair continued its freefall after the mixed New Zealand data.
- It declined to the lowest level since November.
- New Zealand’s exports and imports weakened in February.
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Here’s how NZD/USD price could drop 3.5% this week
Although the NZD/USD price closed the week in positive territory, the price created a bearish candlestick pattern that may facilitate a deeper pullback this week. Moreover, the rising number of new COVID-19 infections and dovish RBNZ may facilitate a deeper pullback. Fundamental analysis: Bearish RBNZ, new COVID-19 infections on…
June 28, 2020
NZD/USD may drop 15% by year-end, the bank warns
Australia and New Zealand Banking Group, also known as ANZ, has remained bearish on NZD/USD despite a recent rally in the pair that saw the price gain more than 1,000 pips since March. Fundamental analysis: Kiwi to suffer from the worsening risk sentiment and dovish RBNZ – ANZ ANZ…
June 5, 2020
NZD/USD Gains More Than 1% On Hawkish RBNZ
NZD/USD has gained more than 1% today after the Reserve Bank of New Zealand (RBNZ) delivered an optimistic message to markets. The price action now tests the key resistance area around the $0.65. Fundamental analysis: RBNZ expects economy to rebound in the second part of 2020 As expected, the…
February 12, 2020