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
Bullish
Oil - US Crude
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
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • $USDJPY Daily Pivot Points: S3: 107.3 S2: 107.4 S1: 107.46 R1: 107.56 R2: 107.6 R3: 107.7 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Good to be back! We started off the week with my #WallStreet index closing above resistance, facing June peaks This is after passing above the 20-day SMA following the 50-day holding Equities seem to be setting up cautiously bullish here $AUDUSD $NZDUSD https://t.co/1NHeKDOHse
  • BOE's Bailey delays meeting with Tory party members - BBG
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.53% 🇦🇺AUD: 0.47% 🇨🇭CHF: 0.33% 🇯🇵JPY: 0.11% 🇨🇦CAD: 0.07% 🇬🇧GBP: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/3Xcr8SqmVU
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.35% Gold: 0.62% Oil - US Crude: 0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/S1HRq3Qhdv
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.38%, while traders in US 500 are at opposite extremes with 70.45%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/z2VKrQ1an0
  • A close below the high end of the zone signals bull’s hesitation and may lead some of them to exit the market and press Gold to fall towards $1,685.Get your $XAUUSD technical analysis from @malkudsi here:https://t.co/WrxzMLWKJM https://t.co/boK0OUGM7D
  • US virus cases increase by 2% vs prior 1.8% 7-day average - BBG
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: 0.04% Wall Street: 0.01% FTSE 100: -0.05% Germany 30: -0.06% France 40: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/LU3pxZ6crc
  • USD/CAD has pulled up just shy of a key zone of support around the 1.3500 handle, and this has happened even as the US Dollar has continued a bearish trend into the start of this week’s trade. Get your $USDCAD technical analysis from @JStanleyFX here: https://t.co/oQshB2qTQt https://t.co/OynxuDWkmu
NZD/USD Technical Analysis: Selloff Stalls at Key Trend Line

NZD/USD Technical Analysis: Selloff Stalls at Key Trend Line

2014-07-28 20:49:00
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: 0.8535, 0.8443, 0.8350
  • Resistance:0.8650, 0.8721, 0.8779

The New Zealand Dollar dropped against the US Dollar after the RBNZ monetary policy announcement to test year-to-date uptrend support. Near-term support is at 0.8535, the intersection of a rising trend line set from January and the 38.2% Fibonacci retracement. Breaking below this barrier on a daily closing basis exposes the 50% level at 0.8443. Alternatively, a turn above the 23.6% Fib at 0.8650 clears the way for a challenge of the 14.6% retracement at 0.8721.

Risk/reward considerations argue against entering short with prices trading in close proximity to support. On the other hand, the absence of a defined bullish reversal signal suggests taking up the long side is premature. We will remain flat for now.

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

NZD/USD Technical Analysis: Selloff Stalls at Key Trend Line

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.