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
Bullish
GBP/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
USD/JPY
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
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
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Heads Up:🇦🇺 AUD NAB Business Confidence (NOV) due at 00:30 GMT (15min), Actual: N/A Expected: N/A Previous: 2 https://www.dailyfx.com/economic-calendar#2019-12-10
  • The Canadian Dollar rose as #USMCA deal bets trimmed pessimism over last week’s dismal jobs report. This is as the Australian Dollar declined alongside the S&P 500 later in the day #CAD $AUDCAD - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/12/10/Canadian-Dollar-Prices-Focus-on-USMCA-Deal-Bets-as-AUD-Declines.html?CHID=9&QPID=917702 https://t.co/q9xhzPm0oW
  • Join @IlyaSpivak 's #webinar at 8:00 PM ET/1:00 AM GMT to prepare for the week ahead in trading the $AUDUSD Register here: https://t.co/sZNWPVRHA0 https://t.co/gjDZupVgYG
  • - What are collateralized loan obligations (CLOs)? - Do they pose a risk to the global financial system? - How would FX markets react to CLO meltdown? https://www.dailyfx.com/forex/fundamental/article/special_report/2019/03/22/Currencies-May-See-Wild-Swings-if-Slow-Growth-Breaks-CLO-Market.html
  • #USDCHF pivot points (daily) – S3: 0.9819, S2: 0.9853, S1: 0.9866, R1: 0.9901, R2: 0.9922, R3: 0.9957- https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • The #Euro snapped downward to overturn a would-be bullish breakout, signaling that sellers have reclaimed the initiative. Will they follow through this time? Get your market update from @IlyaSpivak here:https://t.co/RdAMU0QFYu https://t.co/inKMNJuyj5
  • En español: ¿Qué es el DAX 30? Guía del trader sobre el #DAX30 #GER30 #trading https://t.co/5ERZBPd4hf https://t.co/00FPI76keU
  • Lowe: Weakness in consumption growth was GDP surprise $AUDUSD
  • ...and despite the surge in volatility last week (over 55% jump from the Nov 26 low to Dec 3 high), the net speculative short futures position barely budged https://t.co/or2EZnslUc
  • Lowe: Confident consumers will spend more, but many people have high debt so spending takes longer $AUD
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, Sr. Currency Strategist
Share:

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

Talking Points:

  • NZD/USD Technical Strategy: Flat
  • Support: 0.8535, 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.