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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
The Trend of the Day - NZD/USD

The Trend of the Day - NZD/USD

Gregory McLeod, Currency Analyst

After breaking above its December 10th high of .7317,  Kiwi Dollar is now being challenged by a daily downtrend line that extends from the October 21st high of .7336. This could be formidable resistance that will either drive price back within the
channel or give away to fresh new highs in the .7600 area. With Non Farm payroll coming up this Friday, January 8th look for some choppy sideways action leading up to the very important U.S. employment announcement.

All eyes will be on this first NFP on the New Year which may set the tone for the the rest of 2010.
Drop to a 4-hour chart to identify the double bottom on January 4th and 5th at .7319 which would be a good place to place a stop. Use your favorite oscillator like Stochastic to find an entry in the direction of the trend.

nzdusd trend 01.05.2010

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

DISCLOSURES