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
Mixed
Oil - US Crude
Bearish
Wall Street
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
More View more
NZD/USD Bears Look To Return As Dark Cloud Cover Forms

NZD/USD Bears Look To Return As Dark Cloud Cover Forms

David de Ferranti, Currency Analyst

Talking Points

  • NZD/USD Technical Strategy: Sidelines Preferred
  • Gravestone Doji suggests hesitation from bears near key support
  • 4 hour chart suggests bears may be looking to return

The Kiwi bears have taken a breather near the psychologically-significant 0.8600 handle, with a GravestoneDoji suggesting signs of hesitation from traders to push the currency lower. However, it may be too soon to call for a bounce, given a bullish signal remains lacking on both the daily and four hour charts.

NZD/USD: Finds Support At 0.8600

NZD/USD Bears Look To Return As Dark Cloud Cover Forms

Daily Chart - Created Using FXCM Marketscope 2.0

A Morning Star formation near 0.8600 helped signal the bears were losing their grip on prices. However, they may be looking to stage a return as a Dark Cloud Cover pattern near 0.8700 forms. The close of the candle and confirmation from a successive down-period would be required before suggesting a correction back to 0.8600.

NZD/USD: Bears Lose Steam Near Key Support

NZD/USD Bears Look To Return As Dark Cloud Cover Forms

Four Hour Chart - Created Using FXCM Marketscope 2.0

By David de Ferranti, Currency Analyst, DailyFX

Follow David on Twitter: @Davidde

To receive David’s analysis directly via email, please sign up here.

Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.

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

DISCLOSURES