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.



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
Please try again
More View more
Forex Analysis: NZDUSD Clears Key Channel Support

Forex Analysis: NZDUSD Clears Key Channel Support

Ilya Spivak, Head Strategist, APAC

Strategy: Pending Short

Prices broke below rising channel support set from late May, exposing the 23.6% Fibonacci retracement at 0.8113. A breach of this level exposes the 38.2% Fib at 0.7964. Channel support-turned-resistance is now at 0.8190, with a reversal back above that aiming for long-term trend line resistance now at 0.8320. Risk/reward considerations argue against entering a trade at current levels with the pair so close to support and we will stand side for now.

Forex_Analysis_NZDUSD_Clears_Key_Channel_Support_body_Picture_5.png, Forex Analysis: NZDUSD Clears Key Channel Support

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

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.