NZD/USD gains momentum ahead of RBNZ meeting

Andrey Goilov RoboForex

The New Zealand dollar is steadily rising against the US dollar, with the NZD/USD pair reaching 0.6014 as of Monday. The financial markets are gearing up for Wednesday’s Reserve Bank of New Zealand (RBNZ) meeting. Analysts widely anticipate that the RBNZ will maintain the official cash rate at 5.5% for the ninth consecutive time, reflecting ongoing concerns about the robustness of New Zealand’s economy.

Recent data releases have painted a mixed economic picture. The unemployment rate in New Zealand showed a less-than-expected increase in Q2, while inflation expectations dipped to a three-year low for Q3. These factors collectively strengthen the case for potential rate cuts, though it appears unlikely that the RBNZ will adjust rates downward in August, preferring to wait for cues from major global central banks.

Investor attention is also turning towards upcoming US inflation data, which could further influence global monetary policy expectations, particularly Federal Reserve expectations.

Despite challenges in July and August, the NZD has shown commendable resilience, suggesting potential for continued stability and barring significant external shocks.

Technical analysis of NZD/USD

The NZD/USD pair is developing a consolidation range just above the 0.5983 level. We expect to see an extension of this range to 0.6050, considered a corrective move. According to our NZD/USD forex forecast, the market will likely initiate a downward trend towards 0.5920 following this correction. A breach of this level could open the path to a further decline towards 0.5800. This bearish outlook is supported by the MACD indicator, which, although above zero, points downwards, indicating potential selling pressure.

On the hourly chart, the NZD/USD is crafting the fifth segment of a growth wave aiming for 0.6050, considered a corrective rally. Upon reaching this level, we anticipate a reversal leading to a decrease towards 0.5983, potentially extending the downtrend to 0.5920. This bearish scenario is substantiated by the Stochastic oscillator, whose signal line is currently positioned above 80 but shows signs of a forthcoming downturn.

Author

Andrey Goilov

RoboForex

Higher economic education. Andrey Goilov has been working on the Forex market since 2005. A financial analyst and successful trader. Preference in trading is highly volatile instruments.

EUR/USD looks apathetic around 1.1770

EUR/USD comes under renewed pressure on Tuesday, deflating below the 1.1800 support and reversing two consecutive days of gains. The pair’s decline follows the persistent move higher in the US Dollar, as trade uncertainty dominates the sentiment ahead of President Trump’s SOTU speech.

GBP/USD regains 1.3500 and above

GBP/USD extends its advance for the third day in a row on Tuesday, this time retesting the area beyond the 1.3500 hurdle. Cable’s uptick comes despite decent gains in the Greenback and the dovish message from the BoE’s Bailey at the UK Parliament.

Gold appears offered around $5,150

Gold is giving back a good portion of the recent multi-day rally, receding to the $5,150 zone per troy ounce amid the decent bounce in the US Dollar and mixed US Treasuty yields. In the meantime, markets’ attention remain on upcoming comments from Fed speakers.

Crypto Today: Bitcoin, Ethereum, XRP come under renewed pressure amid ETF outflows, tariff uncertainty

Bitcoin, Ethereum and Ripple are trading under increasing selling pressure at the time of writing on Tuesday, as market participants navigate renewed tariff uncertainty. The Crypto King holds above $63,000, down 2% intraday from its $64,656 open.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.