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
EUR/USD
Bearish
Low
High
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
Oil - US Crude
Mixed
Low
High
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
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
Low
High
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
USD/JPY
Mixed
More View more
New Zealand Dollar Price Outlook: NZD/JPY, NZD/CAD, NZD/CHF

New Zealand Dollar Price Outlook: NZD/JPY, NZD/CAD, NZD/CHF

2020-06-16 03:00:00
Daniel Dubrovsky, Analyst
Share:

New Zealand Dollar, NZD/JPY, NZD/CAD, NZD/CHF – Talking Points

  • Has NZD/JPY experienced a false downside breakout?
  • NZD/CAD may be vulnerable to turning lower ahead
  • NZD/CHF outlook eyes a bearish candlestick pattern

NZD/JPY Technical Analysis

The New Zealand Dollar might have experienced a false downside breakout against the Japanese Yen. After NZD/JPY closed under rising support from the middle of May, prices bounced off the 61.8% Fibonacci retracement at 68.18. Now the pair is testing the 69.68 – 70.03 inflection range and an upside push could shift the focus back in early June highs (71.24 – 71.73). The long term picture may still remain bearish however should falling resistance from 2014 hold - red line on the daily chart below.

Forex for Beginners
Forex for Beginners
Recommended by Daniel Dubrovsky
Learn how to become a more consistent forex trader
Get My Guide

NZD/JPY - Daily Chart

New Zealand Dollar Price Outlook: NZD/JPY, NZD/CAD, NZD/CHF

Chart Created Using TradingView

NZD/CAD Technical Analysis

The New Zealand Dollar may turn lower versus the Canadian Dollar as NZD/CAD tests December highs (0.8780 – 0.8800). That is because there is the presence of RSI divergence, a sign of fading upside momentum. This can at times precede a turn lower, which would place the focus on the 0.8712 – 0.8738 inflection point. Further descending from there may then open the door to testing rising support from the March bottom. Otherwise, further gains exposes July 2019 highs (0.8865 – 0.8890) towards 2016 falling resistance.

Top Trading Lessons
Top Trading Lessons
Recommended by Daniel Dubrovsky
How can you overcome common pitfalls in FX trading?
Get My Guide

NZD/CAD - Daily Chart

New Zealand Dollar Price Outlook: NZD/JPY, NZD/CAD, NZD/CHF

Chart Created Using TradingView

NZD/CHF Technical Analysis

The New Zealand Dollar recently turned lower against the Swiss Franc following the emergence of a bearish Evening Star candlestick pattern – see daily chart below. Downside Follow-through in NZD/CHF has been somewhat lackluster after a bounce off 0.6043. A push above 0.6164 – the August 2019 low – may open the door to testing the 0.6272 – 0.6330 resistance range. This area also closely aligns with a falling trend line from 2019. Resuming losses entails closing under rising support from the March bottom.

NZD/CHF - Daily Chart

New Zealand Dollar Price Outlook: NZD/JPY, NZD/CAD, NZD/CHF

Chart Created Using TradingView

--- Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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

DISCLOSURES

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.