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. See our updated Privacy Policy here.

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
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • Gold Price Forecast: Gold Breaks Bull Flag - Can Buyers Maintain? https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/05/17/Gold-Price-Forecast-Gold-Breaks-Bull-Flag-Can-Buyers-Maintain.html $Gold https://t.co/7Bbm0rDS0G
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.23% 🇨🇦CAD: 0.17% 🇯🇵JPY: 0.16% 🇨🇭CHF: -0.10% 🇦🇺AUD: -0.22% 🇳🇿NZD: -0.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/BGgx9WQxZa
  • 🇷🇺 GDP Growth Rate YoY Prel (Q1) Actual: -1% Expected: -2.2% Previous: -1.8% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.05% France 40: -0.10% Germany 30: -0.13% Wall Street: -0.55% US 500: -0.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/J8JtuE98RX
  • Bitcoin and Dogecoin fell sharply as major cryptocurrencies struggle to stay in demand. Get your #cryptocurrency market update from @RichDvorakFX here:https://t.co/T1BaLrNmUI https://t.co/clFG6sYGIN
  • Heads Up:🇷🇺 GDP Growth Rate YoY Prel (Q1) due at 16:00 GMT (15min) Previous: -1.8% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Technical Levels for US #Dollar, $AUDUSD, #Gold, #Oil, $SPX & #Bitcoin and more! (Webinar Archive) - https://t.co/X4IZtKjZwm
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.22% 🇯🇵JPY: 0.11% 🇬🇧GBP: 0.07% 🇨🇭CHF: -0.07% 🇦🇺AUD: -0.27% 🇳🇿NZD: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/NAFGZR3XoI
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.06% FTSE 100: -0.09% France 40: -0.16% US 500: -0.37% Wall Street: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/vBV4t5YRfa
  • I am a gold bull as I have been for a while. I'm dubious on this current breakout holding, however, for a few reasons. 1) first test above a big zone in a long time 2) $USD is near a huge spot of support (below) 3) It's a Monday and $Gold is already stretched https://t.co/kVtOsQ8iyx https://t.co/ueeWs6XcN2
NZD/USD Technical Analysis – Focus Remain on 0.85 Figure

NZD/USD Technical Analysis – Focus Remain on 0.85 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: 0.8500-13 (38.2% Fib ret., Oct 22 close), 0.8415 (50% Fib ret.)
  • Resistance:0.8562 (trend line), 0.8607 (23.6% Fib ret.

The New Zealand Dollar declined against its US counterpart as expected after prices formed a Bearish Engulfing candlestick pattern. A break below rising trend line set from late March has exposed the 0.8500-13 area, marked by the 38.2% Fibonacci retracement and the October 22 close. A further push below that aims for the 50% level at 0.8415. The trend line – now at 0.8562 – has been recast as resistance, with a turn back above that eyeing the 23.6% Fib at 0.8607.

The 0.85 figure has acted as formidable horizontal support over the past two months and we will opt to wait for that level to be broken as a signal of downside conviction before entering short. In the meantime, we remain flat.

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

NZD/USD Technical Analysis – Focus Remain on 0.85 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