Capitalcore
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NZD/USD Trends Ahead of New Zealand News Impact
The NZD/USD currency pair, often nicknamed the “Kiwi,” represents the New Zealand Dollar versus the United States Dollar and is a highly liquid forex pair. It’s influenced by the economic fundamentals of both New Zealand and the US. Today, key news from Statistics New Zealand includes Retail Sales and Core Retail Sales data, both primary indicators of consumer spending. These reports, released quarterly, play a crucial role in gauging consumer confidence and economic strength. Additionally, the Overseas Merchandise Trade figures, highlighting the balance of trade, will provide insight into New Zealand's export health. Strong data releases above forecasts can bolster the NZD, potentially reducing bearish pressures on the Kiwi.
Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
The H4 chart indicates a recent bearish trend; however, the last five candles show signs of recovery, with four bullish candles, including the latest one as the market reopened for the week. The current price is attempting to break into the Ichimoku red cloud, which has narrowed—a potential sign of weakening resistance. The NZD USD price is currently between the 0.236 and 0.382 Fibonacci retracement levels, showing a modest recovery. The Williams %R indicator is at -38.51, leaning towards an overbought zone but still providing room for upward momentum. The bullish sentiment in recent candles suggests buyers might be testing resistance levels in the cloud, potentially eyeing further upside if upcoming news supports NZD strength.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.
Capitalcore
The NZD/USD currency pair, often nicknamed the “Kiwi,” represents the New Zealand Dollar versus the United States Dollar and is a highly liquid forex pair. It’s influenced by the economic fundamentals of both New Zealand and the US. Today, key news from Statistics New Zealand includes Retail Sales and Core Retail Sales data, both primary indicators of consumer spending. These reports, released quarterly, play a crucial role in gauging consumer confidence and economic strength. Additionally, the Overseas Merchandise Trade figures, highlighting the balance of trade, will provide insight into New Zealand's export health. Strong data releases above forecasts can bolster the NZD, potentially reducing bearish pressures on the Kiwi.
Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
The H4 chart indicates a recent bearish trend; however, the last five candles show signs of recovery, with four bullish candles, including the latest one as the market reopened for the week. The current price is attempting to break into the Ichimoku red cloud, which has narrowed—a potential sign of weakening resistance. The NZD USD price is currently between the 0.236 and 0.382 Fibonacci retracement levels, showing a modest recovery. The Williams %R indicator is at -38.51, leaning towards an overbought zone but still providing room for upward momentum. The bullish sentiment in recent candles suggests buyers might be testing resistance levels in the cloud, potentially eyeing further upside if upcoming news supports NZD strength.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.
Capitalcore
