Thursday, October 15, 2026

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FxWirePro: NZD/USD break above 20-DMA, close above raises scope for upside

NZD/USD benefitting from weaker sentiment surrounding the greenback on diminishing hopes of a Fed rate hike action on Wednesday The pair has broken above 20-DMA at 0.7305, we see scope for further gains. Major trendline …

By FxWirePro Team
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FxWirePro: NZD/USD break above 20-DMA, close above raises scope for upside
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  • NZD/USD benefitting from weaker sentiment surrounding the greenback on diminishing hopes of a Fed rate hike action on Wednesday
     
  • The pair has broken above 20-DMA at 0.7305, we see scope for further gains.
     
  • Major trendline support at 0.7260, weakness only on break below.
     
  • Markets have priced in OCR on hold at 2.0% at Thursday’s RBNZ meet, with a signal of a rate cut in November. 
     
  • Any watering down of this explicit easing signal could likely cause a sharp rise in the NZD.
     
  • Techs do not provide a clear directional bias, but some upside seen on intraday charts. Close above 20-DMA could see bullishness.
     
  • Our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-closes-bearish-gap-but-struggles-at-20-DMA-intraday-bias-higher-306148) is progressing.
     
  • We recommend holding for targets.
     

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