The nzd/usd currency pair is also known as ‘Kiwi’, since $1 coin of this currency depicts as a kiwi bird. This currency pair is one of the 10 most traded currencies across the world, and it also gained considerable charm during multi-decade commodity boom which took place globally. In the year 2012, the Reserve Bank of New Zealand intervened to devaluate the kiwi because it has appreciated too much. In this post, the traders will get technical and fundamental analysis for NZD vs USD forecast.
NZD v USD forecast is projected using an autoregressive integrated moving average (also known as ARIMA model) calibrated using the expectations of the analysts.
The New Zealand dollar was on back foot as US dollar regained its strength. The decision of Reserve Bank of New Zealand is now front, centre and left. Below is the analysis of fundamentals along with updated technical analysis for NZD vs USD forecast.
Technical analysis of NZD vs USD
Note: Dollar/kiwi fallen to lesser ground, but apprehended against the 0.7240 mark
Let us initiate from a greater point this time. 0.7740 is the greater mark that topped the pair in last April (2015). And then it was followed by round mark of 0.76. Highest level seen in the month of September 2016 is 0.7460.
So far, the round figure of 0.74 assisted as resistance and sustenance rear in the year 2015. For 2016, 0.7330 is the new high.
In this context, it is important to note that 0.7290 was actually the pre-Brexit top, and it also served as great resistance. Then the following line is 0.7240 that topped the currency pair (NZD/USD) in 2016, July.
0.7160 served as backing or support level when kiwi or NZD was trading on much higher ground two years back, i.e., in 2016. In 2015, 0.7050 was the peak. The round mark of 0.70 is so important due to its plumpness. But at the same time, it is also important to mention that it is not really strong. And a low of 0.6940 permitted for a provisional recoil.
Benefits of NZD v USD forecast
In forex trading market, one can get two types of traders. One is long-term traders and another one is short term traders. It is a known fact to most of the traders that short-term trades are one who always looks for high returns from the market. Let’s see some of the benefits of NZD/USD forecast investing.
Enhances the supplementary income
Traders who have better knowledge and control regarding market, they make their decisions in much better way. Increasing or enhancing supplemental income is not an easy job, but if someone deals with NZD vs USD forecast, then he/she can add something to income.
Helps to analyse the market well
Since forex trading market is highly volatile, so it is very crucial to foresee price movements. In this regard, forex forecasting can be of great importance. It is good to comprehend flow of market to trade well and earn profitably.