{"id":62794,"date":"2014-10-30T04:38:44","date_gmt":"2014-10-30T08:38:44","guid":{"rendered":"http:\/\/countingpips.com\/?p=62794"},"modified":"2014-10-30T07:23:45","modified_gmt":"2014-10-30T11:23:45","slug":"nzdusd-takes-control-as-rbnz-stayed-dovish","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/nzdusd-takes-control-as-rbnz-stayed-dovish\/","title":{"rendered":"NZDUSD Takes Control As RBNZ Stayed Dovish"},"content":{"rendered":"
October 30, 2014<\/div>
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Visit our website \u2013 Ikofx<\/a><\/strong><\/em><\/p>\n

The New Zealand dollar collapsed during the last two sessions against the US dollar. It was a double assault, as the Fed stayed Hawkish and the Reserve Bank of New Zealand continued selling the NZD in September 2014. The RBNZ interest rate decision was lined up during the London session, which ignited a down-move in the NZDUSD pair. The pair broke an important support which caused heavy downside in the pair. It traded as low as 0.7767 during the past Asian session. It is now correcting higher, but won\u2019t be able to hold the correction mode for long as the sentiment is strong bearish for the pair.<\/p>\n

There was a critical bullish trend line formed on the hourly chart of the NZDUSD pair, which was breached after the release. The downside was very sharp as the pair fell around 100 pips and traded below the last swing low. It even failed to hold the 100 and 200 simple moving average on the one hour chart. The pair after the decline managed to correct higher but failed horribly around the 23.6% fib retracement level of the last down-move from the 0.7976 high to 0.7767 low. It is now moving lower again. It would be interesting to see whether the recent low acts as support or the pair creates a new low.<\/p>\n

\"NZDUSD<\/a><\/p>\n

If the NZDUSD pair breaks the recent low, then the next support can be seen around the 0.7720 area, followed by the all-important 0.7700 handle.<\/p>\n

Overall, one might consider selling rallies dips around as long as the bearish sentiment is intact.<\/p>\n

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Visit our website \u2013 Ikofx The New Zealand dollar collapsed during the last two sessions against the US dollar. It was a double assault, as the Fed stayed Hawkish and the Reserve Bank of New Zealand continued selling the NZD in September 2014. The RBNZ interest rate decision was lined up during the London session, […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-62794","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=62794"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62794\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=62794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=62794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=62794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}