How To Make Money Today: NZD/USD Daily Market Analysis and Forex Trading Signals 5 April 2022
To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…
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NZD/USD:
On the H4, with price expected to bounce off the support of the ichimoku cloud, we have a bias that price will rise to our 1st resistance at 0.69875 in line with the swing high resistance from our 1st support at 0.69053 in line with the horizontal overlap support, 78.6% Fibonacci projection. Alternatively, price may break 1st support structure and head for 2nd support at 0.68752 in line with the 50% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st support at 0.69053
- H4 time frame, 1st resistance at 0.69875
The NZD/USD currency pair remains optimistic as the RBA and the Australian dollar respond.
- Despite the chances of a Ukraine crisis, NZD/USD bulls have gained ground on a buy Wall Street.
- The focus is on the RBA’s interest rate decision, and the kiwi is riding the AUD’s coattails.
Despite a stronger US dollar, the NZD/USD is opening the day in Asia at 0.6950, having risen from the 0.6920s in New York trading, when it hit a high of 0.6969. On Monday, US equities ended the day higher, driven by technology companies, which boosted high beta currencies like the antipodeans.
Nonetheless, the US dollar was strong at the start of the week, with the DXY up 0.5 percent on Monday and for three sessions in a row. The story around the Federal Reserve has firmed US rates, while civilian murders in north Ukraine have kept the safe-haven attraction alive in financial markets. As a result of the story around the Federal Reserve, the US dollar rose in tandem, with the yield on the US 10-year note climbing 3.3 basis points to 2.415 percent.
In this respect, the minutes from the last meeting, when Fed policymakers started the process of policy normalisation by raising rates 25 basis points to 0.25 percent -0.50 percent at the March meeting, will be released this week. TD Securities analysts wrote, “The FOMC pulls no hawkish punches in its policy advice, with Chair Powell also implying that further information on QT plans would be published in the minutes (perhaps including caps specifics).” “An formal QT statement is expected at the May FOMC meeting,” says the report.
Eyes on RBA
“The Kiwi is stronger this morning, having been well bid since the opening yesterday, before riding on the back of the AUD surge and a generalised revival in global risk sentiment,” according to ANZ Bank strategists.
“In terms of the former, today’s RBA meeting is critical since it is the increase in rate hike expectations in the Australian rates market that has helped drive the AUD higher, which has boosted the NZD. There will be no change in policy, but any perceived movement away from their previous highly dovish tone will be seized upon, particularly with the Q1 CPI due before the next meeting (in May). Kiwi, on the other hand, is just following the worldwide trend.”
NZD/USD
| OVERVIEW | |
|---|---|
| Today last price | 0.6953 |
| Today Daily Change | 0.0022 |
| Today Daily Change % | 0.32 |
| Today daily open | 0.6931 |
| TRENDS | |
|---|---|
| Daily SMA20 | 0.6887 |
| Daily SMA50 | 0.6765 |
| Daily SMA100 | 0.6794 |
| Daily SMA200 | 0.691 |
| LEVELS | |
|---|---|
| Previous Daily High | 0.695 |
| Previous Daily Low | 0.6895 |
| Previous Weekly High | 0.6999 |
| Previous Weekly Low | 0.6876 |
| Previous Monthly High | 0.6999 |
| Previous Monthly Low | 0.6728 |
| Daily Fibonacci 38.2% | 0.6916 |
| Daily Fibonacci 61.8% | 0.6929 |
| Daily Pivot Point S1 | 0.6901 |
| Daily Pivot Point S2 | 0.687 |
| Daily Pivot Point S3 | 0.6846 |
| Daily Pivot Point R1 | 0.6955 |
| Daily Pivot Point R2 | 0.698 |
| Daily Pivot Point R3 | 0.701 |
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