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
New Zealand Dollar Reaches Fibonacci Confluence

New Zealand Dollar Reaches Fibonacci Confluence

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_nzd-usd_body_nzdusd.png, New Zealand Dollar Reaches Fibonacci Confluence

Prepared by Jamie Saettele, CMT

The NZDUSD finished January up over 6% (largest monthly gain since May 2009). The NZDUSD reached and slightly exceeded the Fibonacci confluence near 8280 (161.8% extension of the rally from the November low / 61.8% retracement of the decline from the 2011 high). This would be a ‘nice’ place for the NZDUSD to find a top but momentum remains strong and stops are too wide a short position. Support does come in at 8205/25 and a drop under 8155 (Monday low) is needed to trigger a deeper decline towards 8080.

Bottom Line – flat

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