NZD

NZDUSD Technical Analysis - The bearish bias remains intact

• The NZDUSD pair eventually pulled back to the resistance and sold off.

New Zealand August exports NZD 4.99bn (prior $5.45bn) & Imports NZD 7.28bn (prior $6.65bn)

NZD traders heads up - New Zealand moves onto daylight saving this weekend

New Zealand data - Westpac Consumer Confidence for Q3 2023: 80.2 (vs. prior 83.1)

NZDUSD corrects higher off lower swing area today and test 4-hour MA levels

• The 4-hour MAs in the NZDUSD come in at 0.5919 for the 100 or moving average and 0.5943 for the 200 bar moving average

New Zealand Q2 GDP rises more strongly than expected

New Zealand data, current account beats estimates

Magnitude 5.7 earthquake hits South Island region of New Zealand

NZDUSD Technical Analysis - Key resistance in sight

• The NZDUSD pair continues its slow pullback.

NZDUSD sellers are trying to make a play below hourly MA levels

• The 100-hour MA is at 0.59101 while the 200 are moving average is at 0.59029. Staying below is more bearish.

New Zealand economists expect 2023/24 GDP at 0.4%, from 0.6% previously - NZIER survey

New Zealand Services PMI for August 47.1 (prior 48.0)

NZDUSD Technical Analysis - The bearish trend is still intact

• The NZDUSD pair maintains the bearish bias.

New Zealand manufacturing PMI for August 46.1 (prior 46.3)

New Zealand data - Food Price Index (August) +0.5% m/m (prior -0.5%)