On Tuesday, September 18, at 22:45 GMT, New Zealand released the second quarter (Q2) gross domestic product (GDP) data. After New Zealand's GDP exceeded expectations, the New Zealand dollar/US dollar regained some of its latest declines. New Zealand (New Zealand) second-quarter gross domestic product is close to the New Zealand central bank's forecast, while the chain and the year-on-year increase to 0.5% and 2.1%.
The US and Chinese have a recent trade-positive headline that could trigger the pullback of the NZD/USD pair.
After the US Federal Reserve (Fed) cut interest rates by 0.25%, the dollar weakened across the dollar, and the New Zealand dollar fell on Wednesday.
Australian employment data, industry headlines and US statistics are now the focus of attention.
From a technical point of view, the 21-day Simple Moving Average (SMA) level became a direct upside barrier around 0.6365. It breakout triggered a new forecast target of 0.6400 and then moved towards 0.6450 towards the last month. The trend-down trend line connects the May 2017 low and the October 2018 low level, around 0.6170.
Trade with an award-winning broker Start trading in less than 5 minutes
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.