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
Mixed
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
Bearish
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • GBP/USD continues to struggle to break through psychological resistance at the 1.25 mark, as it has throughout this month so far.Get your $GBPUSD market update from @MartinSEssex here: https://t.co/6ERhzKaA7s https://t.co/cIeo4DqTLB
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: US 500: -0.51% Wall Street: -0.74% France 40: -0.98% Germany 30: -1.32% FTSE 100: -1.55% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/73COlz9pMA
  • the term 'parabolic' may be in use quite a bit over the next few days/weeks with what's been going on in $TSLA $AMZN and now $SHCOMP https://t.co/LXXfi0duOk
  • The $USDCNH has aligned to the Chinese Index's rally. Here is the exchange rate overlaid with the SPX-SHCOMP ratio and a 10-day (2 week) correlation coefficient between the two is below: https://t.co/fTPQ6LaZts
  • This has been an interesting move: the Shanghai Composite ($SHCOMP) has posted its largest 5-day rally since Dec 8, 2014 while other risk benchmarks globally have somewhat spun their tires https://t.co/FJdBNuhlOW
  • 🇷🇺 Foreign Exchange Reserves (JUN) Actual: $568.9B Previous: $566.1B https://www.dailyfx.com/economic-calendar#2020-07-07
  • Heads Up:🇺🇸 Fed Bostic Speech due at 13:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-07
  • Heads Up:🇷🇺 Foreign Exchange Reserves (JUN) due at 13:00 GMT (15min) Previous: $566.1B https://www.dailyfx.com/economic-calendar#2020-07-07
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/Aj51jJraPw
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.37%, while traders in NZD/USD are at opposite extremes with 72.78%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/l8kBNxbrIK
NZD/USD Technical Analysis: Stalling at Trend Line Support

NZD/USD Technical Analysis: Stalling at Trend Line Support

2014-08-11 02:42:00
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: 0.8443-57, 0.8350, 0.8236
  • Resistance:0.8535, 0.8600, 0.8650

The New Zealand Dollar paused to consolidate losses against its US namesake after turning violently lower amid evolving RBNZ monetary policy expectations. A daily close below support in the 0.8443-57 area, the intersection of a rising trend line set from September 2013 and the 50%Fibonacci retracement, exposes the 61.8% level at 0.8350.Alternatively, a reversal above the 38.2% Fib at 0.8535 aims for support-turn-resistance at a rising trend line established from January, now at 0.8600.

Prices are too close to support to justify entering short from a risk/reward perspective. On the other hand, the absence of a defined bullish reversal signal suggests entering long is premature. With that in mind, we will remain flat for now.

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

NZD/USD Technical Analysis: Stalling at Trend Line Support

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.