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.

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
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • It's US jobs day! We're talking the impact of NFP on FX markets, as well as the taperless tantrum, for the next ~30-minutes. Join now -- https://www.dailyfx.com/forex/video/live_events/2021/03/05/live-data-coverage-february-us-nonfarm-payrolls-w-christopher-vecchio-cfa-march-5.html
  • 🇷🇺 Foreign Exchange Reserves (FEB) Actual: $586.3B Previous: $590.7B https://www.dailyfx.com/economic-calendar#2021-03-05
  • 15 MINS: NFP Live - Expectations: 182k - Range: Low -100, Hi 500k Unemployment Rate expected 6.3% - Range: Low 6%, Hi 6.5% https://www.dailyfx.com/forex/video/live_events/2021/03/05/live-data-coverage-february-us-nonfarm-payrolls-w-christopher-vecchio-cfa-march-5.html
  • Heads Up:🇺🇸 Nonfarm Payrolls Private (FEB) due at 13:30 GMT (15min) Expected: 210K Previous: 6K https://www.dailyfx.com/economic-calendar#2021-03-05
  • Heads Up:🇺🇸 Participation Rate (FEB) due at 13:30 GMT (15min) Previous: 61.4% https://www.dailyfx.com/economic-calendar#2021-03-05
  • Heads Up:🇺🇸 Average Hourly Earnings YoY (FEB) due at 13:30 GMT (15min) Expected: 5.3% Previous: 5.4% https://www.dailyfx.com/economic-calendar#2021-03-05
  • Heads Up:🇺🇸 Average Weekly Hours (FEB) due at 13:30 GMT (15min) Expected: 34.9 Previous: 35 https://www.dailyfx.com/economic-calendar#2021-03-05
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.19% 🇨🇦CAD: -0.26% 🇪🇺EUR: -0.28% 🇬🇧GBP: -0.44% 🇦🇺AUD: -0.68% 🇳🇿NZD: -0.79% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/XQVazynXVD
  • Heads Up:🇺🇸 Average Hourly Earnings MoM (FEB) due at 13:30 GMT (15min) Expected: 0.2% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2021-03-05
  • Heads Up:🇺🇸 Balance of Trade (JAN) due at 13:30 GMT (15min) Expected: $-67.5B Previous: $-66.6B https://www.dailyfx.com/economic-calendar#2021-03-05
New Zealand Dollar Technical Outlook vs Japanese Yen & British Pound

New Zealand Dollar Technical Outlook vs Japanese Yen & British Pound

Dimitri Zabelin, Analyst

New Zealand Dollar, Japanese Yen, British Pound, NZD/JPY, NZD/GBP – TALKING POINTS

  • NZD/JPY surging as pair heads straight towards key inflection range
  • GBP/NZD selling pressure may swell as pair flirts with crucial floor
  • AUD/NZD retesting 5-year resistance – will there finally be a break?

NZD/JPY Outlook

NZD/JPY is up over 11 percent after bottoming out at a multi-year low at 61.974. In the past day, the pair surged over two percent and is now within touching distance of a key former support-turned-resistance range between 69.897 and 70.030. If that zone is cleared, NZD/JPY may aim to shatter resistance at 71. 247. If the ceiling here is broken with follow-through, it could inspire additional bullish price action.

NZD/JPY – Daily Chart

Chart showing NZD/JPY

NZD/JPY chart created using TradingView

GBP/NZD Forecast

GBP/NZD has recently broken below a multi-month uptrend and has subsequently shattered two support levels along the path of its descent. If selling pressure continues, GBP/NZD may encounter some downside friction at 1.9600. Invalidating support there could open the door to testing a floor at 1.9405 – breaking that could exacerbate the pair’s decline.

GBP/NZD – Daily Chart

Chart showing GBP/NZD

GBP/NZD chart created using TradingView

AUD/NZD Analysis

AUD/NZD may be on the verge of breaking trend-defining resistance that has kept the pair under its shadow since August 2015. Over the past five years, every retest of this descending slope of depreciation has been met with capitulation and a selloff. If upside momentum continues to push AUD/NZD higher, a break above descending resistance with confirmation could inspire additional buyers to enter the market.

AUD/NZD – Weekly Chart

Chart showing AUD/NZD

AUD/NZD chart created using TradingView

--- Written by Dimitri Zabelin, Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitriTwitter

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

DISCLOSURES