Site map
العربية Български 中文 Čeština English Français Deutsch हिन्दी Bahasa Indonesia Italiano Bahasa Malay اردو Polski Português Română Русский Srpski Slovenský Español ไทย Nederlands Українська Vietnamese বাংলা Ўзбекча O'zbekcha Қазақша

InstaForex Client Area

  • Personal settings
  • Access to all InstaForex services
  • Detailed statistics and reports on trades
  • Full range of financial transactions
  • System of managing several accounts
  • Maximum data protection

InstaForex Partner Area

  • Full information on clients and commissions
  • Graphic statistics on accounts and clicks
  • Webmaster instruments
  • Ready-made web solutions and wide range of banners
  • High data protection level
  • Company's news, RSS feeds, and forex informers
Register account
Affiliate Program
cabinet icon

InstaForex – always at the forefront!Open a trading account and become a part of the InstaForex Loprais Team!

Success history of the team headed by Ales Loprais can become your success history! Trade confidently and head towards leadership like regular participant of Dakar Rally and winner of Silk Way Rally InstaForex Loprais Team does it!

Join in and win with InstaForex!

Instant account opening

toolbar icon

Trading Platform

For mobile devices

For trading via browser

Make a deposit
Money withdrawal
pay icon

NZD/USD is the lowest since March 2016 after the RBNZ yesterday gave a clear justification for such a reaction. We were given a downward revision of the growth forecast, a reduced path for the OCR rate (forecast for an increase postponed by half a year for the third quarter of 2020), and the scenario in the case of materialization of negative risks now assumes a reduction of 50 bp and by 100 bp. In other words, the bank sees that the economy is slightly worse, which binds its hands for longer, and if it will be worse, it will be necessary to do more in the direction of loosening. And in the face of global trade tensions, the bar for negative revision of growth prospects is not suspended high. President Orr's subsequent press conference was more balanced (bilateral risks to growth), although highlighting the awareness of threats. In general, in the pigeon housekeeping of the main central banks, the RBNZ is explicitly sent to the first camp. This will be important in the following months, when the volatility will come alive, the market will forget about trade wars and focus on foundations.

The pressure on NZD will remain, as there is currently no reason to expect a hawkish change in the attitude of the RBNZ. In addition, on the market devoid of emotions in recent days, investors have finally received a "juicy" piece and will not easily give it away.

Let's now take a look at the NZD/USD technical picture at the H4 time frame. The market has broken below the technical support at the level of 0.6684 and currently is trading almost 100 pips lower, around the level of 0.6589. The local low was made at the level of 0.6580 in oversold market conditions. The momentum remains below its fifty level and still points to the north. The next important technical support is seen at the weekly time frame at the level of 0.6562.

Exchange Rates 10.08.2018 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Sebastian Seliga,
Analytical expert
Instant Trading EU Ltd © 2007-2018
Benefit from analysts’ recommendations right now
Top up trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Trading leveraged products such as forex and CFDs carries a high level of risk and may not be suitable for all investors. There is a possibility to lose all you initial capital. Before trading you should fully understand the true extent of your exposure to the risk of loss and your level of experience.