|Day's Range||0.641 - 0.641|
|52 Week Range||0.6363 - 0.6972|
Since the NZD/USD is trading inside yesterday’s range, which tends to indicate investor indecision and impending volatility, the direction of the Forex pair the rest of the session is likely to be determined by trader reaction to yesterday’s high at .6411 and yesterday’s low at .6362. Additionally, this chart pattern often signal the start of a transition period from bearish to bullish.
A scheduled FED Chair Powell speech from the Jackson Hole symposium is the main event of the day. He may feel Trump over his shoulder…
It’s a busy day ahead as the markets react further to the FOMC meeting minutes. Chatter from Jackson Hole may overshadow the stats…
Investing.com - The U.S. dollar was largely unchanged on Thursday in Asia. The U.S. Federal Reserve’s July 30-31 meeting minutes released overnight received some focus.
On the upside, the resistance cluster at .6481 to .6483 is keep a lid on prices. The first level is the former top at .6481. Old bottoms become new tops rule. The second level is the minor pivot.
Investing.com - The U.S. dollar was near flat on Wednesday in Asia, while the Euro was also largely unchanged as Italy’s Prime Minister quit.
The RBA looks set to hold on rates near-term. For the day ahead, a lack of stats will leave the markets exposed to any trade war chatter.
The RBA minutes should offer nothing new for investors and should take on a somewhat dovish tone. However, the primary focus for investors this week will be speeches by Governor Lowe and Fed Chair Jerome Powell at the Jackson Hole Symposium.
Investing.com - The U.S. dollar was flat on Monday in Asia as traders remained cautious ahead of Federal Reserve minutes due later this week.
Based on last week’s price action and the close at .6425, the direction of the NZD/USD this week is likely to be determined by trader reaction to the downtrending Gann angle at .6391. This angle, moving down at a rate of .004 per week since the week-ending July 19, has been guiding the market lower for four weeks.
The Reserve Bank of Australia Monetary Policy Meeting Minutes will be featured on Tuesday. Traders will be looking for clues that could help them determine the frequency of future rate cuts by policymakers.
Based on last week’s price action and the close at .6425, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the pivot at .6483.
Investing.com -- Risk sentiment returned to the foreign exchange markets early Friday in Europe, with the Swiss franc and yen retreating against the dollar, and the dollar retreating against the pound as a week of turbulent newsflow drew to a comparatively quiet close.
Investing.com - The U.S. dollar steadied on Friday in Asia, while the Japanese yen fell following the release of better-than-expected U.S. retail sales data.
“Businesses are waiting to see how the uncertainty resolves rather than invest,” he added. “The longer businesses hold off, the weaker demand will be, which will further confirm the decision to wait. That runs the risk of a self-fulfilling downturn.”
Investing.com - The Australian dollar rose against its U.S. counterpart on Thursday in Asia following the release of better-than-expected jobs data.
Based on the recent price action and Wednesday’s close at .6434, the direction of the NZD/USD today is likely to be determined by trader reaction to the downtrending Gann angle at .6411.
Based on the recent price action and the current price at .6458, the direction of the NZD/USD is likely to be determined by trader reaction to the pivot at .6483.
Investing.com - The Japanese yen rose on Wednesday in Asia despite positive trade news. Underperforming Chinese data and a political crisis in Hong Kong supported the safe-haven currency.
On the markets, we are back at the risk-off mode. Traders all over the world are allocating their money in safe-haven assets, escaping from those risky ones. Now let’s look at the reasons for that. Trade Wars? Argentina? Hong Kong? Political crisis in Italy?
Based on the early price action, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the downtrending Gann angle at .6471. This angle, moving down at a rate of 0.002 per day from the .6791 top has been guiding the Forex pair lower since July 19.
While there are no stats due out today, the markets will continue to be sensitive to any trade war chatter. There’s also Italy to factor in.