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
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
Oil - US Crude
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • $NZDUSD gained on the #RBNZ rate decision today But, could the New Zealand Dollar resume recent weakness following the rise in market volatility? Check out my market alert here - https://www.dailyfx.com/forex/market_alert/2020/09/23/New-Zealand-Dollar-Gains-on-RBNZ-But-NZDUSD-May-Follow-SP-500-Lower.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/Kh7eUkJ5bk
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.09% Silver: -0.72% Oil - US Crude: -1.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/jaR1G9i65d
  • Market Outlook Ahead of the First Biden-Trump Presidential Debate: https://www.dailyfx.com/forex/fundamental/article/special_report/2020/09/23/Market-Outlook-Ahead-of-the-First-Biden-Trump-Presidential-Debate.html
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/6E67iUW3Z4
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.07% 🇬🇧GBP: -0.09% 🇨🇭CHF: -0.16% 🇯🇵JPY: -0.21% 🇪🇺EUR: -0.23% 🇦🇺AUD: -0.51% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/tTgkeWxPdA
  • How will financial markets react to the upcoming #PresidentialDebate on September 29? See my take on it here and what to expect from the first Biden-Trump debate. https://www.dailyfx.com/forex/fundamental/article/special_report/2020/09/23/Market-Outlook-Ahead-of-the-First-Biden-Trump-Presidential-Debate.html
  • 🇳🇿 Interest Rate Decision Actual: 0.25% Expected: 0.25% Previous: 0.25% https://www.dailyfx.com/economic-calendar#2020-09-23
  • #RBNZ: - Balance of risks remain to the downside (BBG)
  • #RBNZ: - OCR held in accordance with March guidance - Banking system is on track to be ready for negative rates (BBG)
  • #RBNZ: - Alternative tools can be deployed independently - Additional tools include negative OCR
NZD/USD Technical Analysis – Support Seen Above 0.86

NZD/USD Technical Analysis – Support Seen Above 0.86

2014-05-08 23:06:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • NZD/USD Technical Strategy: Flat
  • Support: 0.8607 (23.6% Fib ret.), 0.8500-13 (38.2% Fib ret., Oct 22 close)
  • Resistance: 0.8745 (Apr 10 high), 0.8791 (trend line)

The New Zealand appears to be carving out a top against its US counterpart after prices completed a Bearish Engulfing candlestick pattern below resistance at 0.8745, the April 10 high. Initial support is at 0.8607, the 23.6% Fibonacci retracement, with a break below this barrier targeting the 0.8500-13 area marked by the 38.2% level and the October 22 close. Alternatively, a turn and daily close above 0.8745 aims for a rising trend line set from mid-March, now at 0.8791.

Prices are too close to relevant support to justify a short position from a risk/reward perspective. We will remain on the sidelines for now, waiting for a more actionable trade setup to present itself.

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

NZD/USD Technical Analysis – Support Seen Above 0.86

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