Our free forex signals for today is the NZD/USD pair and we have the entry, stop and take profits levels for you The New Zealand dollar has continued to drift lower in a downtrend since its near-term high of 0.7317 reached on 26 May. NZDUSD is currently priced at 0.6956, down 0.5% But the ongoing correction notwithstanding, the Reserve Bank of New Zealand has indicated that it will hiking rates later this year and that is bullish for the Kiwi. Analysts at ING expect NZDUSD to hit new cycle highs before the year is out. That provides much food for thought for forex trading. Get FREE Forex Signals Now! This bullish scenario has been buried by the dominance of what the analysts describe as “global risk dynamics” – although the interest rate hike might be priced in, tapering appears not to be, but the reasons for it are surely near to being redundant. The danger of over-juicing economies is becoming more real, if inflation worries are to be believed. NZD/USD: tapering on the way “Markets have likely turned a blind eye to domestic factors for many pro-cyclical currencies over the past few weeks, with global risk dynamics driving most losses. This was the case for NZD too.” “Markets are almost fully pricing in a rate hike by year-end from the RBNZ, which is now looking increasingly likely. 1Q GDP jumped to 2.4% YoY (exceeding expectations), inflation may have moved to the 2.5-3.0% region in 2Q, housing inflation has remained high, and a weaker NZD is surely welcome by the Bank.” “We think the chances of a late-2021 hike are 50/50, but surely the reasons to keep the stimulus going in other forms are lacking, so some material tapering should be on the way. This should keep the rate profile of NZD significantly more attractive than AUD and support a move to 0.75 in NZD/USD by year-end.” Today’s 0.5% fall in the European session suggest there are opportunities for a buy on the pair based on oversold conditions Free forex signals – buy NZDUSD Instrument: NZD/USD Order: SELL STOP Entry price: 0.6904 Stop Loss: 0.7015 TP1: 0.6759 Recommended Risk: 1% Risk / Reward Ratio: 1:1.3 Signal validity period: Good until cancelled Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Gary McFarlane Gary McFarlane Gary was the production editor for 15 years at highly regarded UK investment magazine Money Observer. He covered subjects as diverse as social trading and fixed income exchange traded funds. Gary initiated coverage of bitcoin and cryptocurrencies at Money Observer and for three years to July 2020 was the cryptocurrency analyst at the UKâ€™s No. 2 investment platform Interactive Investor. In that role he provided expert commentary to a diverse number of newspapers, and other media outlets, including the Daily Telegraph, Evening Standard and the Sun. Gary has also written widely on cryptocurrencies for various industry publications, such as Coin Desk and The FinTech Times, City AM, Ethereum World News, and InsideBitcoins. Gary is the winner of Cryptocurrency Writer of the Year in the 2018 ADVFN International Awards. View All Post By Gary McFarlane Forex Trading Signals share Read Next Forex Broker News: EBS Launches ‘Next-Gen’ Trading Platform for FX Gary McFarlane 5 months Our free forex signals for today is the NZD/USD pair and we have the entry, stop and take profits levels for you The New Zealand dollar has continued to drift lower in a downtrend since its near-term high of 0.7317 reached on 26 May. NZDUSD is currently priced at 0.6956, down 0.5% But the ongoing correction notwithstanding, the Reserve Bank of New Zealand has indicated that it will hiking rates later this year and that is bullish for the Kiwi. Analysts at ING expect NZDUSD to hit new cycle highs before the year is out. That provides much food for… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.