NZD/USD chart on Trading View used for analysis
- NZD/USD pauses upside and retraces break above 21-EMA, bias bearish.
- Kiwi offered across the board in response to dismal NZ business confidence reading.
- The ANZ business confidence reading fell to -50.3 in August from the previous month's print of -44.9.
- Details of the report showed that 5 percent of firms surveyed by ANZ intended to reduce investment.
- Further, the NZ-US 10-year yield spread hit a 3.5-month low today, signaling the NZD could be in for a deeper losses.
- NZD/USD is holding support at 2H 200-SMA. Break below will see further downside.
- Major trend in the pair remains bearish. Break below 2H 200 SMA will see resumption of weakness. Scope then for test of 0.6645 (Aug 15 low).
Support levels - 0.6647 (2H 200-SMA), 0.6619 (Aug 24 low), 0.66, 0.6544 (Aug 15 low)
Resistance levels - 0.6685 (21-EMA), 0.67, 0.6763 (55-EMA)
Recommendation: Good to go short below 2H 200 SMA, SL: 0.6690, TP: 0.66/ 0.6545
FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at -32.9275 (Neutral), while Hourly USD Spot Index was at 27.0931 (Neutral) at 0745 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K
FxWirePro: GBP/NZD retreats slightly but trend is still bullish
FxWirePro- Major Crypto levels and bias summary
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92
EUR/JPY Holds Bullish Bias Post-ECB Pause: Buy Dips Toward 185 as 182 Support Stands Firm
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
FxWirePro- Woodies Pivot(Major)
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike
FxWirePro: GBP/USD climbs above 1.34 after BoE's relatively hawkish cut
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro: GBP/USD dips lower on negative UK retail sales data 



