NZDUSD

Forex Trading: NZDUSD breaks resistance on the dollar weakness

Greg Michalowski — Wed, 02 Jul 2008 09:51:17 -0400

The NZDUSD broke through the key resistance against the 0.7589 to 0.7594 area where the 100 and 200 hour MA and the 50% retracement level all preside. This will now be support for the pair as it wonders how policy might go in that country.

The pair was supported by dollar weakness, as well as some strength in its neighbor Australia which had above concensus retail sales of 0.7%. Traders tend to think if Australia is doing well so will NZ.

Traders will be watching to see if the pair can remain above this key support level. The upside resistance now comes in at 0.7610 and 0.7627.

Forex Trading: NZDUSD remains below key MA resistance

Greg Michalowski — Tue, 01 Jul 2008 20:07:03 -0400

The NZDUSD broke through the 100 and the 200 hour MA during the NY session and remained below the level for the rest of the day. The low for the day came in at 0.7555 before finding a base. There is a trendline from the low of June 13th which comes in at the 0.7550.

The resistance remains at the moving averages which come in at the 0.7593. On the downside the trendline support at 0.7552 is what the market will be watching.

Forex Trading: NZDUSD breaking through the support level

Greg Michalowski — Tue, 01 Jul 2008 09:32:35 -0400

See the previous posted comment by clicking here. The pair has moved through the 50% retracement level (at 0.7593) AND the 100 and 200 hour moving average at 0.7590. A close on the hourly below these levels would put the sellers in charge.

Forex Trading:NZDUSD bounces off support

Greg Michalowski — Tue, 01 Jul 2008 09:18:29 -0400

The high yielding NZD dollar bounced off support at the 0.7592-0.7595 area this morning. The 100 and 200 hour moving average along with the 50% retracement level of the recent move higher, provided 3 reasons to buy at the level. A break below this level would probably be fed by some good selling as longs liquidate and new day trading shorts are initiated.

On the upside, an extension of the days high at .07526 would be needed to move higher.

Forex News: NZD GDP and Trade Balance point to weakness

Basil Fayad — Thu, 26 Jun 2008 18:46:01 -0400

NZD GDP QoQ
Expected at -.3% 1Q Actual -3%

NZD GDP YoY Expected at 2.0%
Actual 1.9%

The decline was led by a decline in consumer spending, home building and exports. Households account for 60% of the economy. Spending fell by 0.4%, the 1st fall in 4 years. Durable goods led the decline as consumers have been forced to spend more on food, energy and mortgage payments. Mortgage rates are up to 9.6% from 8.8% last year.

On the plus side, spending on plant, machinery and equipment increased. Inventories also rose which is good for now, but bad for the future.

Forex Trading: NZDUSD in between 100 and 200 hour MA.

Greg Michalowski — Thu, 26 Jun 2008 08:45:36 -0400

NZDUSD is trading between the 100 and 200 hour MA. Watch the break.

Forex Trading:NZDUSD is back above the 0.7568 level

Greg Michalowski — Wed, 25 Jun 2008 20:30:27 -0400

The selling pressure has subsided a bit as the market quiets down.

Forex Trading: NZDUSD breaks through the 100 and 200 hour MA off the weaker data

Greg Michalowski — Wed, 25 Jun 2008 19:20:28 -0400

The NZDUSD is selling off below the 100 (0.7589) and 200 hour MA (0.7568) on the back of the larger Current Account deficit.

The 0.7568 level is also the 38.2% retracement level of the last move higher from the low on June 13th to the high on June 20th. This level will be watched to see if it can contain the corrective move and if so, give sellers confidence in initiating a larger move down. Below this level, is the low from yesterday at 0.7544. The 50% retacement level comes in at this area as well.

Forex Trading: NZDUSD trading between 100 and 200 hour MA

Greg Michalowski — Tue, 24 Jun 2008 22:06:53 -0400

The NZDUSD is trading between the 100 and 200 hour MA. The topside 100 hour resistance is at 0.7593. The Support at the 200 hour MA comes in at 0.7560. Watch these levels.

Forex Trading: NZDUSD testing support

Greg Michalowski — Mon, 23 Jun 2008 23:16:30 -0400

The NZDUSD, like the AUDUSD, had a string of days where the trend moved higher. Yesterdya the uptrend was broken and it has pressured the currency.

The pair is now with range of the 200 hour moving average would comes in at 0.7554. Below that level is the 50% retracement of the bullish move higher that comes in at 0.7545. This level would need to hold to keep the upside momentum.