Sees more downside below 200-day EMA
The post Sees more downside below 200-day EMA appeared on BitcoinEthereumNews.com. NZD/USD slumps to near 0.5870 as the US Dollar strengthens on a temporary truce between the US and China. The US and China have lowered tariffs by 115% for 90 days. RBNZ dovish bets limit the upside in the NZ Dollar. The NZD/USD pair tumbles to near 0.5870 during North American trading hours on Monday. The Kiwi pair falls sharply as the demand for the US Dollar (USD) has increased after the comments from Washington signaled that the trade war between the United States (US) and China has been averted. The US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, surges above 101.50, the highest level seen in a month. Market sentiment turns upbeat as the resolution of the trade war between the US and China is expected to uplift the global economic outlook. S&P 500 has posted substantial gains at open, demonstrating the strong risk appetite of investors. In a joint statement, the US and China have announced a 90-day pause on tariffs and lowered them by 115%. The truce between the world’s two largest powerhouses is expected to diminish elevated US consumer inflation expectations. Though the New Zealand Dollar (NZD) is down against the US Dollar, its outlook is improving as the US-China trade truce will have an indirect support for the Kiwi economy. Meanwhile, growing expectations that the Reserve Bank of New Zealand (RBNZ) will cut interest rates further could limit the NZD’s upside. NZD/USD slides to near 0.5870 on a breakdown of the Double Bottom formation on a daily timeframe after breaking below the last higher low of 0.5890. The pair has fallen to near the 200-day Exponential Moving Average (EMA), which trades around 0.5860. The overall trend will turn bearish if the asset slides below the 200-day EMA. The 14-day Relative…
The post Sees more downside below 200-day EMA appeared on BitcoinEthereumNews.com.
NZD/USD slumps to near 0.5870 as the US Dollar strengthens on a temporary truce between the US and China. The US and China have lowered tariffs by 115% for 90 days. RBNZ dovish bets limit the upside in the NZ Dollar. The NZD/USD pair tumbles to near 0.5870 during North American trading hours on Monday. The Kiwi pair falls sharply as the demand for the US Dollar (USD) has increased after the comments from Washington signaled that the trade war between the United States (US) and China has been averted. The US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, surges above 101.50, the highest level seen in a month. Market sentiment turns upbeat as the resolution of the trade war between the US and China is expected to uplift the global economic outlook. S&P 500 has posted substantial gains at open, demonstrating the strong risk appetite of investors. In a joint statement, the US and China have announced a 90-day pause on tariffs and lowered them by 115%. The truce between the world’s two largest powerhouses is expected to diminish elevated US consumer inflation expectations. Though the New Zealand Dollar (NZD) is down against the US Dollar, its outlook is improving as the US-China trade truce will have an indirect support for the Kiwi economy. Meanwhile, growing expectations that the Reserve Bank of New Zealand (RBNZ) will cut interest rates further could limit the NZD’s upside. NZD/USD slides to near 0.5870 on a breakdown of the Double Bottom formation on a daily timeframe after breaking below the last higher low of 0.5890. The pair has fallen to near the 200-day Exponential Moving Average (EMA), which trades around 0.5860. The overall trend will turn bearish if the asset slides below the 200-day EMA. The 14-day Relative…
What's Your Reaction?
