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.



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
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • GBP turbulence persists as investors eye the next round of EU-UK Brexit negotiations. Cautious optimism signals a deal is near. Get your #currencies update from @JMcQueenFX here:
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
  • What is the outlook for financial markets ahead of the first presidential debate and how are Democratic nominee Joe Biden and President Donald Trump doing in the polls? Find out from @ZabelinDimitri here:
  • The US Dollar could gain as it forms bullish technical formations against the Singapore Dollar and Malaysian Ringgit. USD/PHP may have bottomed, will USD/IDR rise next? Find out from @ddubrovskyFX here:
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your $USDINR market update from @ddubrovskyFX here:
  • A proxy of #EmergingMarket capital flows hit its lowest since July, falling with the #SP500 after some divergence This is as #USD gained against its developing FX counterparts, highlighting potential risk of a spillover outwards Stay tuned for next week's #ASEAN fundy outlook!
  • 4 consecutive down weeks for the #SP500, last matched over a year ago #Fed balance sheet continues to gain very cautiously, now at its highest since the middle of June. Still, at slower pace than last week Focus shifts to US fiscal stimulus next week in the House of Reps
NZD/USD Price Outlook: Kiwi Carries Breakout Potential

NZD/USD Price Outlook: Kiwi Carries Breakout Potential

2018-10-29 19:30:00
Michael Boutros, Strategist

The New Zealand Dollar has continued to trade just below multi-month slope resistance with the initial October opening-range in focus heading into the close. Here are the updated targets and invalidation levels that matter on the NZD/USD charts. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

New to Forex Trading? Get started with this Free Beginners Guide

NZD/USD Daily Price Chart

NZD/USD Daily Price Chart

Technical Outlook: In my Weekly Technical Outlook on the New Zealand Dollar, our ‘bottom line’ noted that Kiwi was, “trading just above key confluence support at 6453/88 and IF prices are going to post some sort of near-term recovery this would be the spot.” Kiwi registered a low at 6424 just two days later before reversing sharply back toward the upper parallel of the pitchfork formation we’ve been tracking off the yearly highs.

Despite the volatility, NZD/USD continues to trade within the confines of the October opening-range and we’ll be looking for the break to offer further guidance on our medium-term directional bias. Critical daily support rests at 6453/65 – a region defined by the 2015 low-week close, the yearly low-day close and the 78.6% retracement of the October advance. A topside breach of the descending pitchfork is needed to suggest a more significant low is in place.

Learn how to Trade with Confidence in our Free Trading Guide

NZD/USD 240min Price Chart

NZD/USD 240min Price Chart

Notes: I’m working with a slightly different slope on the intraday chart but the same levels are reflected. Looking for support ahead of 6496 if price is indeed heading higher. Near-term resistance stands at 6555 backed by 6595 with a breach above 6624/40 needed fuel the next leg higher. Weakness sub-6453 would risk considerable losses with subsequent support targets seen at the yearly low at 6424 and the 2016 low at 6347.

Even the most seasoned traders need a reminder every now and then- Avoid these Mistakes in your trading

Bottom line: The immediate range in focus heading into the close of the month is 6453-6640 – look for the break for guidance. From a trading standpoint, I’ll favor fading weakness while within this near-term structure ultimately targeting a breach of this multi-month descending formation. Look for an early-week low near the lower parallel IF this is going to work. We’re light on Kiwi data this week with lots of US event risk on tap- ending with Non-Farm Payrolls on Friday. Tread lightly here into the monthly open.

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy

NZD/USD Trader Sentiment

NZD/USD Trader Sentiment
  • A summary of IG Client Sentiment shows traders are net-long NZD/USD - the ratio stands at +1.67 (62.5% of traders are long) – bearishreading
  • Traders have remained net-long since September 20th; price has moved 0.3% lower since then
  • Long positions are5.8% higher than yesterday and 2.9% lower from last week
  • Short positions are 2.3% lower than yesterday and 1.8% lower from last week
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests NZD/USD prices may continue to fall. However, traders are more net-long than yesterday but less net-long from last week and the combination of current positioning and recent changes gives us a further mixed NZDUSD trading bias from a sentiment standpoint.

See how shifts in NZD/USD retail positioning are impacting trend- Learn more about sentiment!


Relevant NZD/USD Data Releases

NZD/USD Economic Calendar

Economic Calendar - latest economic developments and upcoming event risk. Learn more about how we Trade the News in our Free Guide!

Active Trade Setups

- Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex or contact him at

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