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
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
GBP/USD
Bullish
USD/JPY
Bearish
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
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
Oil - US Crude
Bearish
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
Bitcoin
Mixed
More View more
Real Time News
  • RT @ANZ_Research: We published a short note providing a snapshot of #Wuhan's economy and our initial views of the economic impact of the #c…
  • SNB's Jordan says the interest rate differential to the Eurozone is important, adds that negative rates are a necessity $CHF
  • SNB's Jordan states that more risks are to the downside $CHF
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.32%, while traders in US 500 are at opposite extremes with 76.36%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/B7DLpjrvT7
  • Join @CVecchioFX January 23rd at 10AM EST/ 3:00PM GMT for live AMAS/ discussion on what's next for the US China #tradewar. Only on Facebook and Twitter. https://t.co/bbXws3JR6I
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Gold: -0.19% Silver: -0.72% Oil - US Crude: -1.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/iG0pfQ3v7Y
  • Euro May Fall as the ECB Stays Cautious Despite Economic Upturn - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2020/01/23/Euro-May-Fall-as-the-ECB-Stays-Cautious-Despite-Economic-Upturn.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #EURO #EURUSD #ECB https://t.co/IXuzDZfdAt
  • Forex Update: As of 08:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.39% 🇯🇵JPY: 0.23% 🇬🇧GBP: 0.02% 🇳🇿NZD: -0.06% 🇪🇺EUR: -0.06% 🇨🇦CAD: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/8INUinLskN
  • Indices Update: As of 08:00, these are your best and worst performers based on the London trading schedule: US 500: -0.08% Wall Street: -0.10% France 40: -0.26% Germany 30: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/PWzxPVafIA
  • Join our analysts for live coverage of all major economic data at the DailyFX Webinars. https://www.dailyfx.com/webinars?re-author=Cottle?utm_source=Twitter&utm_medium=Cottle&utm_campaign=twr
NZD/USD Classical 05.07

NZD/USD Classical 05.07

2010-05-07 07:03:00
Joel Kruger, Technical Strategist
Share:

nzd2

NZD/USD: While some might argue that despite the latest pullbacks, the market is still locked in a bull channel off of the 2010 lows, we contend that the channel is on the verge of being broken, with additional declines seen over the coming weeks. The 200-Day SMA, which has been supporting much of the uptrend this year, has now been breached, with the market managing to close below the longer-term SMA on Thursday. Although we have seen a number of daily closes below the 200-Day this year, the market has been unable to establish a 2-day close below the SMA. As such, we look for another close below the 200-Day SMA on Friday to confirm bearish outlook and accelerate declines below next key support which comes in by 0.6965. Look for any rallies to be well capped ahead of 0.7200.

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com 

If you wish to receive Joel's reports in a more timely fashion, e-mail instructor@dailyfx.com and you will be added to the "distribution" list.

 

 

If you wish to discus this topic or any other feel free to visit our Forum page


 

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

DISCLOSURES

News & Analysis at your fingertips.