FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: GBP/NZD retreats slightly but trend is still bullish 
FxWirePro: GBP/USD dips lower on negative UK retail sales data 
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865 
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook 
FxWirePro: USD/ZAR edges higher but bearish outlook persists 
FxWirePro:EUR/AUD eases but bullish outlook persists 
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212 
FxWirePro: GBP/AUD moves lower on weak UK data 
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed 
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish 
FxWirePro- Major Pair levels and bias summary 
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116 
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K 
Chart - Courtesy Trading View
Spot Analysis:
NZD/USD was trading 0.25% higher on the day at 0.6591 at around 05:55 GMT.
Previous Week's High/ Low: 0.6727/ 0.6529
Previous Session's High/ Low: 0.6597/ 0.6538
Fundamental Overview:
Expectations that the Fed will tighten its monetary policy at a faster pace than anticipated now seem to have dampened future growth prospects, resulting in modest US dollar weakness.
Atlanta Fed President, Raphael Bostic reinforced speculations and said that the Fed could raise benchmark rate by 50 bps if a more aggressive approach to combat stubbornly high inflation is needed.
Focus now on the release of the US ISM Manufacturing PMI later today in the NY session for further impetus.
Technical Analysis:
- The pair is trading below 200-week MA, bias lower
- GMMA indicator shows major and minor trend are strongly bearish
- Stochs are at oversold levels and RSI is on verge of bullish rollover into neutral
- MACD and ADX support further weakness in the pair
Major Support and Resistance Levels:
Support - 0.6466 (50% Fib), Resistance - 0.6585 (5-DMA)
Summary: The pair hovers near 5-DMA and decisive break above could see further gains. Major trend is still bearish and pullbacks are likely to be shallow.
