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.

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
GBP/USD
Bearish
USD/JPY
Bullish
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
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
Bitcoin
Mixed
More View more
Real Time News
  • Negative yielding government bonds – What are they telling us? Find out from @nickcawley1 here: https://t.co/F6JuhmrvPT https://t.co/Mf9e1cgWmR
  • The #Euro jumped higher to challenge range resistance capping upside progress since mid-October. Signs of ebbing momentum warn it may be back on defense soon. Get your market update from @IlyaSpivak here: https://t.co/MGqVDEWhUD https://t.co/rQRxJAmLWi
  • RT @zerohedge: Is The Market Up This Week? Just Ask The Fed's Balance Sheet https://t.co/6p01J9yAZ8
  • $USD: "The US Dollar is making a last-ditch effort to cling onto a key technical support level after dropping 3% from its 2019 high as risk appetite roars and the Fed inflates its balance sheet." - via @DailyFX Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2019/12/14/us-dollar-outlook-fx-volatility-rising-from-extreme-lows-usd-levels-to-watch.html https://t.co/87cITJPVQa
  • The $NZD is testing resistance guiding the currency lower against its US counterpart for over two years. Will buyers prevail or be rejected yet again? Get your market update from @IlyaSpivak here:https://t.co/hRsbxhwotM https://t.co/ehlbb43gqd
  • very cool, very legal https://t.co/gsOxPiEdIw
  • $USDCAD is testing slope support into the close of the week with the immediate short bias at risk while above 1.3134/51. Get your USD/CAD technical analysis from @MBForex here:https://t.co/eE9yrNEU80 https://t.co/mszY7ouYRF
  • $EURUSD Daily Pivot Points: S3: 1.0966 S2: 1.1041 S1: 1.1085 R1: 1.116 R2: 1.119 R3: 1.1264 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • The British Pound’s relief rally may still have some room to run: volatility in the $GBP has dropped back to levels typically associated with periods of ‘positive developments’ in the #Brexit process. Get your market update from @CVecchioFX here:https://t.co/uzXRd8y4ck https://t.co/Nxf6opYgLd
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 1.31% 🇨🇦CAD: 0.12% 🇨🇭CHF: 0.09% 🇪🇺EUR: -0.09% 🇳🇿NZD: -0.11% 🇦🇺AUD: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/z0x9cPG1TN
NZD/USD Technical Analysis: Kiwi Drops to 6-Week Low

NZD/USD Technical Analysis: Kiwi Drops to 6-Week Low

2014-07-24 02:10:00
Ilya Spivak, Sr. Currency Strategist
Share:

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

Talking Points:

  • NZD/USD Technical Strategy: Flat
  • Support: 0.8618, 0.8567, 0.8504
  • Resistance:0.8658-69, 0.8733, 0.8779

The New Zealand Dollar dropped to the lowest level in six weeks against the US Dollar following the RBNZ monetary policy announcement. A daily close below support at 0.8618, the 50% Fibonacci retracement, exposes the 61.8% level at 0.8567. Alternatively, a reversal above the 0.8658-69 area – marked by the June 17 close and the 38.2% Fib – opens the door for a test of the 23.6% retracement at 0.8733.

Entering short seems premature absent confirmation of a break below support. On the other hand, taking up the long side lacks support from a defined bullish reversal signal. We will continue to stand aside for the time being.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

NZD/USD Technical Analysis: Kiwi Drops to 6-Week Low

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

News & Analysis at your fingertips.