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
Oil - US Crude
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
New Zealand Dollar at Short Term Channel Resistance

New Zealand Dollar at Short Term Channel Resistance

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_nzd-usd_body_NZDUSD.png, New Zealand Dollar at Short Term Channel Resistance

Prepared by Jamie Saettele, CMT

Price is riding channel resistance and focus remains on 8240/80 (October high / 161.8% extension of the rally from the November low / 61.8% retracement of the decline from the 2011 high). Of note is the daily RSI reading, which is now above 75. Since 2010, readings of 75 or higher pinpointed tops to the day in November 2010 and August 2011. On 4/14/11, RSI reached 75, the rally extended on the 15th before a 160 pip drop on the 18th (a Monday). An important top is likely to form next week.

Bottom Line – flat

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