NZD/USD Price Forecasts: Kiwi is testing support at the 0.5700 area
New Zealand Dollar’s rejection at the 0.5750-0.5760 resistance area on Monday has reactivated bearish pressure on the pair, pushing prices to the bottom of last week’s trading range, right above 0.5700, which is being tested at the moment.Positive comments from US President Trump, who showed hopes o
  • The New Zealand Dollar dives against a stronger USD, approaching the 0.5700 area.
  • Easing concerns about a US-China trade war are buoying the US Dollar across the board.
  • NZD/USD: Further depreciation below 0.5700 would confirm a bearish flag formation.

New Zealand Dollar’s rejection at the 0.5750-0.5760 resistance area on Monday has reactivated bearish pressure on the pair, pushing prices to the bottom of last week’s trading range, right above 0.5700, which is being tested at the moment.

Positive comments from US President Trump, who showed hopes of signing a fair deal with his Chinese counterpart Xi Jinping next week, are underpinning the US Dollar’s recovery on Tuesday. In New Zealand, on the other hand, the reaction to the
Stronger-than-expected CPI figures have been muted, as growing inflation coupled with slow growth poses a serious challenge for the RBNZ.

Technical Analysis: A break of 0.5700 would confirm a Bearish Flag

NZD/USD Chart

The double top at the 0.5750 area – on October 16 and 20 – highlights a strong resistance area, and the sharp reversal from those levels suggests that bears are taking control, aiming to push price action below the 0.5705–0.5710 area.

A bearish move below the mentioned 0.5700 would confirm a Bearish Flag formation, and increase pressure towards the October 14 low in the area of 0.5680. The flag formation’s measured target is the 127.2% Fibonacci extension of the early October sell-off,  at 0.5640.

Upside attempts are likely to face resistance at the mentioned 0.5750-0.5760 area, ahead of trendline resistance, now at 0.5750, and the October 8 high, at 0.5805.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.22% 0.18% 0.81% 0.10% 0.38% 0.48% 0.25%
EUR -0.22% -0.04% 0.56% -0.13% 0.17% 0.25% 0.02%
GBP -0.18% 0.04% 0.59% -0.09% 0.21% 0.26% 0.06%
JPY -0.81% -0.56% -0.59% -0.68% -0.40% -0.31% -0.52%
CAD -0.10% 0.13% 0.09% 0.68% 0.28% 0.38% 0.15%
AUD -0.38% -0.17% -0.21% 0.40% -0.28% 0.08% -0.17%
NZD -0.48% -0.25% -0.26% 0.31% -0.38% -0.08% -0.23%
CHF -0.25% -0.02% -0.06% 0.52% -0.15% 0.17% 0.23%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).


FXStreet
Trade The World
Higit sa isang milyong user ang umaasa sa FXStreet para sa real-time market data, charting tools, expert insights, at Forex news. Ang komprehensibong economic calendar at educational webinars nito ay tumutulong sa mga trader na manatiling may alam at gumawa ng kalkuladong mga desisyon. Sinusuportahan ang FXStreet ng humigit-kumulang 60 propesyonal sa pagitan ng Barcelona HQ at iba’t ibang rehiyon sa buong mundo.
Read More

LIVE QUOTES

Name / Symbol
Chart
% Change / Price
GBPUSD
1 D change
+0%
0
EURUSD
1 D change
+0%
0
USDJPY
1 D change
+0%
0

ALL ABOUT FOREX

Galugarin ang Higit pang mga Tool
Trading Academy
Mag-browse ng malawakang hanay ng mga educational na artikulo na sumasaklaw sa mga trading strategy, market insights, at financial fundamentals, lahat sa isang lugar.
Matuto pa
Mga Kurso
Galugarin ang mga structured na trading course na idinisenyo upang suportahan ang inyong paglago sa bawat yugto ng inyong trading journey.
Matuto pa
Webinar
Sumali sa mga live at on-demand na webinar upang makakuha ng real-time na market insights at trading strategies mula sa mga eksperto sa industriya.
Matuto pa