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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Mixed
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.16%, while traders in US 500 are at opposite extremes with 77.23%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/6hcL6283Yf
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.13% 🇯🇵JPY: -0.02% 🇨🇦CAD: -0.02% 🇨🇭CHF: -0.06% 🇬🇧GBP: -0.11% 🇳🇿NZD: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/CwF9QmReEw
  • $USDHKD: “If the HIBOR-LIBOR spread increases again, and at the same time the USD/HKD exchange rate returns to 7.85, money could indeed be moving out of Hong Kong.” - via @ING_Economics https://t.co/xWYns19eoQ
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: US 500: 0.03% Wall Street: 0.01% Germany 30: -0.00% France 40: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/2njXMVkFO7
  • Asia Pacific Equities Update: Nikkei 225 (-0.19%), Shanghai Composite (+0.12%), ASX 200 (+0.52%), KOSPI (+0.28%)
  • My trading video for today: 'Dollar or Dow: Which Faces the Biggest Impact from the Fed Decision, Forecasts?' https://www.dailyfx.com/forex/video/daily_news_report/2019/12/11/Dollar-or-Dow-Which-Faces-the-Biggest-Impact-from-the-Fed-Decision-Forecasts.html?CHID=9&QPID=917719 https://t.co/K0zruCw1qy
  • Market positioning hints that NZD/USD may turn higher as the AUD/USD extends its near-term drop ahead of the Fed, UK General Election and the December 15 US-China tariff deadline $AUDUSD $NZDUSD - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/12/11/NZDUSD-Rate-May-Rise-as-AUDUSD-Price-Falls-on-Trader-Bets.html?CHID=9&QPID=917702 https://t.co/j1d3kkVfEf
  • Philippine keeps CPI assumption through 2020 at 2%-4%, latest estimates on 2020-2022 GDP growth at 6.5% to 7.5% -BBG $USDPHP #PHP #BSP
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Gold: -0.04% Silver: -0.18% Oil - US Crude: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/LgsPNfcKsp
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.05% 🇪🇺EUR: 0.01% 🇨🇭CHF: -0.01% 🇨🇦CAD: -0.05% 🇬🇧GBP: -0.15% 🇳🇿NZD: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OY4a8ADSNd
NZD/USD Tight Consolidation

NZD/USD Tight Consolidation

2016-02-02 20:33:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

NZD/USD Tight Consolidation

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader and see ideas on other USD crosses

-Since breaking the September-November trendline, NZD/USD triggered a double top with weakness below the November low. However, the 1/20 reversal and subsequent follow through casts double on the validity of the downside…at least in the near term. With price continuing to hold the November low, beware of a run on .6615 or so (support from October).

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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

DISCLOSURES

News & Analysis at your fingertips.