#NZDUSD @ 0.55983 US Dollar jumps after US CPI, loses momentum during last hours. (Pivot Orderbook analysis)
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
- US Dollar jumps after US CPI, loses momentum during last hours.
- US stocks recover after slide, turn positive.
- NZD/USD bottoms slightly above 0.5500, then rebounds sharply.
The pair currently trades last at 0.55983.
The previous day high was 0.5717 while the previous day low was 0.556. The daily 38.2% Fib levels comes at 0.5657, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.562, expected to provide resistance.
The NZD/USD tumbled in a few minutes from 0.5630 to 0.5510, reaching the lowest level since March 2020 following the release of US CPI data. Later the pair recovered ground rising back toward 0.5600.
The greenback rose sharply immediately after the September US CPI that showed higher-than-expected readings. The Consumer Price Index rose 0.2% in September above the 0.1% of market consensus. The annual core rate hit a new decade high at 6.6%.
Those numbers triggered sharp moves that are still taking place. The dollar jumped as US yields soared to fresh multi-year highs. Later a rebound in equity prices in Wall Street weakened the dollar triggering a reversal that pushed NZD/USD back to 0.5600.
The NZD/USD could face resistance at 0.5620 before the daily high at 0.5635/40. If the pair rises above 0.5740 it would alleviate the bearish pressure. A slide back under 0.5760 would expose the recent lows again.
Technical Levels: Supports and Resistances
NZDUSD currently trading at 0.5543 at the time of writing. Pair opened at 0.5609 and is trading with a change of -1.18 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.5543 |
| 1 | Today Daily Change | -0.0066 |
| 2 | Today Daily Change % | -1.1800 |
| 3 | Today daily open | 0.5609 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.5743, 50 SMA 0.6016, 100 SMA @ 0.6156 and 200 SMA @ 0.6427.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.5743 |
| 1 | Daily SMA50 | 0.6016 |
| 2 | Daily SMA100 | 0.6156 |
| 3 | Daily SMA200 | 0.6427 |
The previous day high was 0.5717 while the previous day low was 0.556. The daily 38.2% Fib levels comes at 0.5657, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.562, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.5541, 0.5472, 0.5384
- Pivot resistance is noted at 0.5697, 0.5785, 0.5854
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.5717 |
| Previous Daily Low | 0.5560 |
| Previous Weekly High | 0.5815 |
| Previous Weekly Low | 0.5597 |
| Previous Monthly High | 0.6162 |
| Previous Monthly Low | 0.5565 |
| Daily Fibonacci 38.2% | 0.5657 |
| Daily Fibonacci 61.8% | 0.5620 |
| Daily Pivot Point S1 | 0.5541 |
| Daily Pivot Point S2 | 0.5472 |
| Daily Pivot Point S3 | 0.5384 |
| Daily Pivot Point R1 | 0.5697 |
| Daily Pivot Point R2 | 0.5785 |
| Daily Pivot Point R3 | 0.5854 |
[/s2If]
Join Our Telegram Group
