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.

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
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
More View more
NZDUSD: Narrow Range Continues to Hold

NZDUSD: Narrow Range Continues to Hold

Ilya Spivak, Head Strategist, APAC

Strategy: Flat

As suspected, the narrow break of support at 0.8193 proved fleeting as prices nudged back into the familiar range that contained NZDUSD since mid-September. The first layer of major resistance remains at a falling trend line set from late-August 2011, now at 0.8342.A break above that exposes the top of a rising channel established from the May 2012 lows at 0.8472. Alternatively, a meaningful push through support targets 0.8047. Current positioning doesn’t offer an actionable trade setup and we will stand aside for now.

NZDUSD_Narrow_Range_Continues_to_Hold_body_Picture_5.png, NZDUSD: Narrow Range Continues to Hold

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed.

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

DISCLOSURES