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
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
Mixed
USD/JPY
Bearish
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
Bitcoin
Bearish
More View more
NZD/USD Classical Technical Report 05.11

NZD/USD Classical Technical Report 05.11

2011-05-11 06:19:00
Joel Kruger, Technical Strategist
Share:
NZDUSD_Classical_body_nzd2.png, NZD/USD Classical Technical Report 05.11

NZD/USD:The latest break below 0.7820 is significant and suggests that a key top is now in place by 0.8120. From here, look for deeper setbacks towards next key support in the 0.7600’s by the 50/100-Day SMAs. The 10-Day SMA is showing a negative cross with the 20-Day SMA to further confirm negative outlook, and as such, any intraday rallies from here should be well capped below 0.8000 on a daily close basis. Back above 0.8000 concerns.

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 jskruger@dailyfx.com and you will be added to the "distribution" list.

If you wish to discuss 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.