The New Zealand Dollar Is Active Ahead Of Financial Stability Report

• 28 Nov 2017

NZD/JPY

The NZD/JPY pair has broken a previous resistance area at the 76.77 price level. A series of doji candlesticks highlighted indecision in the pair before the strong bullish break in today’s trading session. The next obvious price target is the 77.67 price level. The bullish move has been supported by a sharp up move on RSI bouncing off the 30 support level.

Impact event: RBNZ Financial Stability Report will be released at 22:00 GMT+2 and will impact NZD pairs.

AUD/NZD

The AUD/NZD pair has started a strong bearish move in the last couple of trading sessions, which has resulted in a break of the 20- period EMA and the 1.099 price level which represents a previous resistance line. RSI and MACD have sharp downward trajectories with the bearish move culminating in a break of the zero line on MACD.

NZD/CAD

The NZD/CAD pair is testing the 0.885 price level after a strong bullish break of the 0.874 price level indicating buying pressure in the pair. RSI has sharply snapped back from close to oversold territory.  Volume has also risen, supporting the move and indicating plenty of interest in the pair.

NZD/USD

The NZD/USD pair has broken the 20-period EMA and is testing a previous resistance zone. The next price target for buyers is likely the 0.705 price level which represents a previous support level for the pair. RSI again has a sharp upward trajectory and MACD appears to be turning less negative. Volume is low however, so it remains to be seen whether buyers will have the conviction to push prices to the 0.705 price line.