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
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
Mixed
More View more
Real Time News
  • $Gold still making a strong push. Next week the resistance side of the channel making up the bull flag becomes confluent with the 1859 fibo level $GC $GLD https://t.co/QNSaIRbXCS https://t.co/O1bo7FHhIi
  • 🇺🇸 Wholesale Inventories MoM (MAR) Actual: 1.3% Expected: 1.4% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-05-07
  • 🇨🇦 Ivey PMI s.a (APR) Actual: 60.6 Previous: 72.9 https://www.dailyfx.com/economic-calendar#2021-05-07
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.16%, while traders in Wall Street are at opposite extremes with 73.93%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/EiAO8cJJtm
  • even an encouraging sign for $Silver here broke above resistance yday. has pulled back to find some support at that zone 27-27.23 not the same bullish flare as $gold but, encouraging nonetheless https://t.co/94XYUYtyar https://t.co/Afw32QInwm
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Gold: 1.12% Silver: 0.57% Oil - US Crude: 0.51% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/cqFJXCaNDo
  • $Gold even the pullbacks have been clean, another fresh high post #NFP https://t.co/9lkpkPJrGi https://t.co/c0uUw8gK05
  • Heads Up:🇺🇸 Wholesale Inventories MoM (MAR) due at 14:00 GMT (15min) Expected: 1.4% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-05-07
  • Heads Up:🇨🇦 Ivey PMI s.a (APR) due at 14:00 GMT (15min) Previous: 72.9 https://www.dailyfx.com/economic-calendar#2021-05-07
  • USD/CAD price action pivoted nearly 30-pips lower in response to the latest employment data. Get your $USDCAD market update from @RichDvorakFX here:https://t.co/AI9EdEY8pL https://t.co/Rfs0owYs9U
NZD/USD Technical Analysis – Stalling Above 0.86 Figure

NZD/USD Technical Analysis – Stalling Above 0.86 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: 0.8607 (23.6% Fib ret.), 0.8500-13 (38.2% Fib ret., Oct 22 close)
  • Resistance: 0.8745 (Apr 10 high), 0.8794 (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.

Risk/reward considerations argue against taking a position at current levels. We will continue to stand aside for now, waiting for the pair to yield a more actionable trading opportunity in the days ahead.

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

NZD/USD Technical Analysis – Stalling Above 0.86 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