Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
NZD/USD Technical Analysis: Rally Falters Above 0.76 Mark

NZD/USD Technical Analysis: Rally Falters Above 0.76 Mark

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • NZD/USD Technical Strategy:Flat
  • Support: 0.7514, 0.7479, 0.7421
  • Resistance:0.7573, 0.7619, 0.7666

The New Zealand Dollar failed to maintain upward momentum on an attempt to breach the 0.76 figure against its US namesake. Near-term resistance is at 0.7573, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis exposing the 50% level at 0.7619. Alternatively, a turn below the 23.6% Fib at 0.7514 opens the door for a challenge of the 14.6% expansion at 0.7479.

The available trading range is too narrow to justify entering a trade on the long or short side from a risk/reward perspective. With that in mind, we will remain flat for now, waiting for price action to offer a more compelling opportunity down the road.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

Daily Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES