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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.01% Gold: -0.21% Silver: -0.21% View the performance of all markets via
  • The Nasdaq 100 may continue outperforming Dow Jones futures ahead as fears about global growth continue weighing on the 10-year Treasury yield ahead of NFPs. What are the risks? Find out from @ddubrovskyFX here:
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.05% 🇪🇺EUR: -0.08% 🇨🇭CHF: -0.09% 🇬🇧GBP: -0.10% 🇳🇿NZD: -0.15% 🇦🇺AUD: -0.24% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.31%, while traders in France 40 are at opposite extremes with 79.00%. See the summary chart below and full details and charts on DailyFX:
  • - Will take action if needed - GDP will contract in Q3 - Outlook in near term is uncertain - BBG
  • RBA: - Further major virus outbreaks resulting in lockdowns would delay recovery - BBG
  • The Australian Dollar may face swelling selling pressure from souring risk appetite over the COVID-19 delta variant and escalating tension with China. Get your $AUD markt update from @ZabelinDimitri here:
  • Heads Up:🇦🇺 RBA Statement on Monetary Policy due at 01:30 GMT (15min)
  • Nasdaq 100 Hits All-Time High, Lifting Nikkei 225 and ASX 200
  • - Stopping currency appreciation is one aim of QE - BBG
NZD/CAD Longs at Risk on Approach of Key Resistance at 9200

NZD/CAD Longs at Risk on Approach of Key Resistance at 9200

Michael Boutros, Strategist
  • NZD/CAD approaching critical Fibonacci resistance range
  • Updated targets & invalidation levels


NZD/CAD Longs at Risk on Approach of Key Resistance at 9200

Chart prepared by Michael Boutros

Broader Technical Outlook: NZDCAD is coming into a key region of technical resistance at the confluence of the 1.618% extension of the ascent off the yearly lows and the 61.8% retracement of the December decline at 9204/07. Although the broader outlook remains weighted to the topside, the rally is vulnerable heading into this threshold and we’ll be looking for a pullback to offer more favorable long-entries. Key near-term support is eyed at the convergence of the 2015 open & a median-line parallel at 9043.

Avoid the pitfalls of near-term trading strategies by steering clear of classic mistakes. Review these principles in the "Traits of SuccessfulTraders” series.

NZDCAD 30min

NZD/CAD Longs at Risk on Approach of Key Resistance at 9200

Notes: The pair has been trading within the confines of a well-defined ascending channel fomation with channel suppoort converging on the 50% retracement a 9091 heading into the overnight session. Keep in mind the weekly opening-range low comse in at 9059 with our bullish invalidation level set to the 2015 open at 9043.

From a trading standpoint, I would be looking for an exahustion high / short-triggers on a move into key resistance at 9204/07 for a pullback into slope support. A breach above 9225 would be needed to keep the topside bias in play with such a scenario targeting 9300 & 9365. A quarter of the daily average true range (ATR) yields profit targets of 22-26 pips per scalp. The economic docket is rather light heading into the close of the week with markets fully focused on tomorrow’s critical U.K. referendum. Continue tracking this setup and more throughout the week- Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount.

Help fine-tune you entries, click here to learn more about the DailyFX Grid Sight Index (GSI)

Other Setups in Play:

Looking for trade ideas? Review DailyFX’s 2016 2Q Projections

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex contact him at or Click Here to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFX and Tuesday, Wednesday & Thursday’s on SB Trade Desk at 12:30 GMT (8:30ET)

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