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
Bullish
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
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Gold is jumping again today and briefly tested its 200-day simple moving average before turning lower Despite the quick retracement, the gold price chart is starting to look encouraging https://t.co/Dvd4H9vQEs
  • Levels for Yields on the $US10Y post-#NFP . . . Watch the close today. . https://t.co/ZFZnLXiH5f
  • And now people are wondering why said group of workers is no longer willing to accept low wages? This is a major psychological shift on a society-wide level.
  • After decades of calling certain workers "low skill," we then have a dramatic turn of pace with calling them "essential" during the pandemic, seeing as how society would have literally collapsed without them....
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.00% FTSE 100: 0.46% France 40: 0.20% US 500: 0.20% Wall Street: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/y6AovkZ4X1
  • re: talk that April US NFP reflects workers unwilling to take COVID risk at current wages Is it really a surprise?
  • from the talking points in this article on Wednesday. Illustrated this morning with #NFP and $SPX, $NDX https://t.co/cZLAoRbPvi https://t.co/el8fsm9i15
  • Heads Up:🇷🇺 Foreign Exchange Reserves (APR) due at 13:00 GMT (15min) Previous: $573.3B https://www.dailyfx.com/economic-calendar#2021-05-07
  • $EURUSD rips right back up to fibo resistance zone after the falling wedge reversal https://t.co/Z5TlCSvHtB https://t.co/SFX4kaPYHw
  • Watch your live NFP coverage with @CVecchioFX here:https://t.co/8W0SxoTWhz
NZD/USD Technical Analysis – Resistance Met Below 0.87 Figure

NZD/USD Technical Analysis – Resistance Met Below 0.87 Figure

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: 0.8617 (14.6% Fib exp.), 0.8513 (Oct 22 close)
  • Resistance: 0.8679 (23.6% Fib exp.), 0.8745-81 (38.2% Fib exp., Apr 10 high)

The New Zealand turned is edging higher anew having once again found support above the 0.8513, the October 22 close. Breaking above resistance at 0.8679, the 23.6% Fibonacci expansion, targets the 0.8745-81 area marked by the April 10 high and the 38.2% level. A turn below the 14.6% Fib at 0.8617 exposes 0.8513 anew.

Risk/reward considerations argue against taking a long position with prices in so close to relevant resistance. We will continue to stand on the sidelines for the time being, waiting for a more attractive trade opportunity to present itself.

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

NZD/USD Technical Analysis – Resistance Met Below 0.87 Figure

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