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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
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
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • The US Dollar recovered from the small Retail Sales selloff and was buoyed by strong December Industrial Production numbers, pushing the $DXY to around 90.60, its highest level since the beginning of the week. $USD https://t.co/zOjDOtIMHx
  • Much like the rest of the G10 FX space, the Australian Dollar has struggled for direction with the recent uptrend beginning to stall at 0.78. Get your $AUDUSD update from @JMcQueenFX here: https://t.co/IReLh35w64 https://t.co/EoSXjkxtFU
  • 🇺🇸 Industrial Production YoY (DEC) Actual: -3.6% Previous: -5.5% https://www.dailyfx.com/economic-calendar#2021-01-15
  • 🇺🇸 Industrial Production MoM (DEC) Actual: 1.6 Expected: 0.5% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-01-15
  • been one of those 'catch your breath' type of weeks in $Gold following last week's bearish engulf. But - a box has built b/w support and resistance and levels rather clear for an eventual break https://t.co/3HIo1wZwTi https://t.co/P8MbWmYprE
  • #Gold drops following dismal retail sales data, moves back towards range support. $XAU $GLD https://t.co/vS3m01s0lE
  • Heads Up:🇺🇸 Industrial Production MoM (DEC) due at 14:15 GMT (15min) Expected: 0.5% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-01-15
  • Heads Up:🇺🇸 Industrial Production YoY (DEC) due at 14:15 GMT (15min) Previous: -5.5% https://www.dailyfx.com/economic-calendar#2021-01-15
  • The US Dollar has headed slightly lower following a worse-than-expected Retail Sales print. $USD $DXY https://t.co/HwX3BcUaPk
  • 🇺🇸 Retail Sales Ex Autos MoM (DEC) Actual: -1.4 Expected: -0.1% Previous: -0.9% https://www.dailyfx.com/economic-calendar#2021-01-15
Forex: NZD/USD Technical Analysis – Waiting to Confirm a Top

Forex: NZD/USD Technical Analysis – Waiting to Confirm a Top

2014-03-16 22:47:00
Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • NZD/USD Technical Strategy: Flat
  • Support: 0.8474-87 (23.6% Fib ret., trend line), 0.8393 (38.2% Fib ret.)
  • Resistance: 0.8582 (100% Fib exp.), 0.8663 (123.6% Fib exp.)

A Shooting Star hints the New Zealand Dollar may be in the process of carving out a top against its US counterpart. Initial support is in the 0.8474-87 area, marked by the 23.6% Fibonacci retracement and a rising trend line set from early February. A break below that initially exposes the 38.2% level at 0.8393. Near-term resistance is at 0.8582, the 100% Fib expansion.

Taken in isolation, a Shooting Star candle represents indecision rather than a defined reversal signal. While the implied loss of bullish conviction may precede a reversal, confirmation is needed before the setup becomes actionable. With that in mind, we will remain continue to monitor positioning from the sidelines for the time being.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_nzd-usd_body_Picture_10.png, Forex: NZD/USD Technical Analysis – Waiting to Confirm a Top

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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

DISCLOSURES