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.

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
  • The US Dollar could rise against #ASEAN currencies such as the Singapore Dollar as US-China tensions seem to escalate. The Indian Rupee is also looking ahead of local 1Q GDP data.Get your market update from @ddubrovskyFX here:https://t.co/LkEFJViPWY https://t.co/fc07BMitLx
  • Wall Street Futures Update S&P 500: -0.33% Dow Jones: -0.34% NASDAQ 100: -0.32% (delayed) - BBG
  • (Asia AM) The Japanese #Yen and US Dollar sank as the Australian Dollar rose despite escalating US-China tensions over Hong Kong. $USDJPY may be readying to turn lower after clearing support - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/05/26/Yen-Sank-Despite-US-China-Hong-Kong-Tensions-USDJPY-May-Fall.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/GxJ7D7W5Ov
  • RBNZ's Orr: Sees 'more room to go' on home loan interest rates -BBG
  • The $AUD may suffer as relations between Australia and China deteriorate amid dwindling growth prospects. Euro traders will be closely watching progress in talks about a €500b recovery fund proposal. Get your market update from @ZabelinDimitri here:https://t.co/LkEFJViPWY https://t.co/6QH27c5ZHS
  • RBNZ's Orr: Expects credit demand to lift and bank lending to match greater credit demand -BBG
  • RBNZ Governor Adrian Orr: Sees more room for banks to increase lending, banks have done well with loan restructures -BBG $NZDUSD #RBNZ
  • Join @ddubrovskyFX 's #webinar at 8:00 PM ET/12:00 AM GMT to find out what information you can gain from knowing what other traders are buying or selling. Register here: https://t.co/Bb3CTCTm44 https://t.co/AyCMqK52oa
  • BoC's Poloz: Negative rates needed only in extreme conditions, extreme conditions may happen if fiscal policy not used -BBG $USDCAD
  • S&P500: Still, risks to the rally remain so traders will have to discern whether this is an honest breakout or a mere head-fake higher. Get your #equities market update from @PeterHanksFX here:https://t.co/zDlsun6VIF https://t.co/IQ1ITcVj7I
Price & Time: NZD/USD -  What to Watch For After The Fed

Price & Time: NZD/USD - What to Watch For After The Fed

2015-09-17 14:15:00
Kristian Kerr, Sr. Currency Strategist

Price & Time covers key technical themes daily and can be delivered to your inbox each morning by joining the distribution list: Price & Time

Talking Points

  • NZD/USD testing failed support zone
  • Cycle convergence warns of potential counter-trend recovery

Unfamiliar with Fibonacci Relationships? Learn more about them HERE

NZD/USD: Waiting On The Fed

Price & Time: NZD/USD -  What to Watch For After The Fed

I wrote last week that the bigger picture inflection point for NZD/USD looks to be during the 4th quarter of this year. However, there are plenty of minor cycle relationships to navigate through before then. We seem to be in one of those periods now as last week's low came right on the 161.8% time extension of the internal cycle from the key lows in 2012 and 2013. Last week also marked a fairly clear Fibonacci back count as it was 21 weeks from the July high, 62 weeks from the June 2014 high and 144 weeks from the December 2012 high. The next few days is also another harmonic time relationship related to the 2009 “Global Financial Crisis” low and the 2010 low. That cycle has proven especially important over the years as various geometric relationships from it have led to important turns in the exchange rate since 2010.

As I said last week, the Kiwi’s break of the support confluence zone between .6350 and .6425 (61.8% retracement of the 2009 – 2011 advance, the 50% retracement of the 2000 – 2011 advance and the lower parallel of a pitchfork connecting the key highs and lows of 2013 and 2014) suggests the broader risk is that NZD/USD gravitates towards the next important support cluster near .5800 - .5725 (78.6% retracement of 2009 – 2011 advance, the 61.8% retracement of the 2000 – 2011 advance, the 261.8% extension of the 2013 – 2014 range and a trendline connecting the 2001 and 2009 lows) in the medium-term. Markets tend not to go in straight lines, however, so if we are going to see a counter-trend recovery of any significance before 4Q then now is probably a decent time for it given the confluence of relationships over the past week or so.

The failed support between .6350 and .6425 now looks critical in this regard with traction above this zone needed to signal the start of a recovery of some significance. Failure to get above here within the next few days would favor a continuation lower.

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

To contact Kristian, e-mail instructor@dailyfx.com. Follow me on Twitter @KKerrFX

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


News & Analysis at your fingertips.