NZD/USD Needs to Surpass 0.6200 for More Bullish Actions

By XM Group (Trading Point )CurrenciesNov 23, 2022 06:13AM ET

www.investing.com/analysis/nzdusd-needs-to-surpass-06200-for-more-bullish-actions-200632709

NZD/USD Needs to Surpass 0.6200 for More Bullish Actions

By XM Group (Trading Point ) | Nov 23, 2022 06:13AM ET

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NZD/USD

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NZDUSD is testing the 0.6200 psychological mark once again after it broke the long-term descending trend line to the upside.

The bullish bias in the short-term may be endorsed if there is a climb above the medium-term downtrend line and the 200-day simple moving average (SMA) at 0.6290. The MACD oscillator is mirroring the several tests for more bullish actions as the oscillator is moving sideways near its trigger line. However, the RSI is heading north approaching the 70 level.

To the upside, an initial important resistance region at 0.6200 must be penetrated to hit the 200-day SMA at 0.6290. Conquering this, the 0.6470 barrier could halt the climb towards the 0.6570 level, a break of which would shift the outlook to positive.

Otherwise, if sellers manage to close decisively below the long-term falling line and the 0.6000 handle, which overlaps with the 20-day SMA, the 50-day SMA at 0.5820 may challenge bears’ efforts to revisit the 0.5770 support level.

All in all, NZDUSD needs some more boost to surpass the immediate resistance of 0.6200 and the 200-day SMA to keep the bias to the upside.

NZDUSD

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Central Banks

Interest Rates

Next Meeting

FED

4.75%

Mar 22, 2023

ECB

3.00%

Mar 16, 2023

BOE

4.00%

Mar 23, 2023

SNB

1.00%

Mar 23, 2023

RBA

3.35%

Mar 07, 2023

BOC

4.50%

Mar 08, 2023

RBNZ

4.25%

Feb 22, 2023

BOJ

-0.10%

Mar 10, 2023

CBR

7.50%

Feb 10, 2023

RBI

6.50%

Feb 08, 2023

PBOC

3.65%

BCB

13.75%

Mar 22, 2023

US 30	34,004.6	+55.6	+0.16%
US 500	4,124.3	+6.4	+0.16%
Dow Jones	33,949.01	-207.68	-0.61%
S&P 500	4,117.86	-46.14	-1.11%
Nasdaq	11,910.52	-203.27	-1.68%
S&P 500 VIX	19.63	+0.97	+5.20%
Dollar Index	103.335	+0.037	+0.04%

Crude Oil WTI	78.48	+0.01	+0.01%
Brent Oil	85.12	+1.43	+1.71%
Natural Gas	2.433	+0.020	+0.83%
Gold	1,886.15	-2.05	-0.11%
Silver	22.317	-0.031	-0.14%
Copper	4.0445	-0.0030	-0.07%
US Soybeans	1,519.75	+4.75	+0.31%

U.S. 10Y	3.603	-0.050	-1.37%
U.S. 30Y	3.685	-0.027	-0.72%
U.S. 5Y	3.7970	-0.0230	-0.60%
U.S. 3M	4.7525	+0.0380	+0.82%
US 10Y T-Note	113.58	+0.17	+0.15%
Euro Bund	136.31	+0.26	+0.19%
10-2 Yield Spread	-78.92	+4.53	+-5.43%

Apple	151.95	-2.70	-1.75%
Alphabet A	99.37	-8.27	-7.68%
Tesla	201.29	+4.48	+2.28%
Amazon.com	100.05	-2.06	-2.02%
Netflix	366.83	+3.88	+1.07%
Meta Platforms	183.43	-8.19	-4.27%
Bank of America	36.50	-0.27	-0.73%

NZD/USD Needs to Surpass 0.6200 for More Bullish Actions

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