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  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.53% 🇨🇦CAD: 0.12% 🇦🇺AUD: 0.11% 🇪🇺EUR: 0.06% 🇨🇭CHF: 0.02% 🇯🇵JPY: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/8GopfGXi3V
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  • The US Dollar seems to be losing its momentum against ASEAN currencies as of late. Could this be another top in USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:https://t.co/rVBKBuhhAb https://t.co/PSkSEjVnMC
NZD/USD Classical Technical Report 01.18

NZD/USD Classical Technical Report 01.18

Joel Kruger, Technical Strategist
Daily_Classical_NZDUSD_body_nzd2.png, NZD/USD Classical Technical Report 01.18

NZD/USD: Any rallies are classified as corrective and we continue to see this market in the process of carving out a major longer-term top. From here, we look for the formation of the next major lower top somewhere around 0.8000 ahead of a fresh downside extension. Look for a break and close back under 0.7770 to help confirm bias and accelerate declines. Ultimately, only a close back above 0.8100 would negate outlook and give reason for pause.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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