Did NZDUSD reach its pivot point?

Did NZDUSD reach its pivot point?

New Zealand economy

Electronic Card Retail Sales for April grew by 0.7% in New Zealand. NZDUSD has almost reached its resistance cluster zone (between 0.63800 and 0.63900). 

RBNZ’s rate is one of the highest among the developed economies (5.25%). It means the Central Bank has almost no room to increase the rate. Moreover, New Zealand is a net exporter to the US. The lower is NZD, the better is for the economy. 

The global situation

Australian retail sales increased by 0.4%, as expected. Consumption surpassed the previous fact (0.2%). AUDUSD reached 100MA. The possibility of the correction is relatively high.


According to the Halifax Bank of Scotland, the House Price Index in April dropped by 0.3%. The real estate market in Great Britain is slowing down. That’s unsurprising, considering the mortgage rate at its historical maximum of 7.22%

XBRUSD is slightly recovering. The nearest resistance level is 77.60. We expect that the price may reach it soon.

Bitcoin fell below 50MA. The price has almost touched the 27000 level (the support line). The local trend is bearish, but globally, the bullish tendency prevails. 

XAUUSD is rising. All the trend lines are heading up. 2050 is the next resistance level for the price.

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USD Gains Momentum
USD Gains Momentum

The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!

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