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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
NZD/USD Technical Analysis: Kiwi Rallies Most in 4 Months

NZD/USD Technical Analysis: Kiwi Rallies Most in 4 Months

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: 0.7872, 0.7697, 0.7597
  • Resistance:0.7973, 0.8138, 0.8271

The New Zealand Dollar rebounded as expected against its US counterpart after putting in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci retracement at 0.7973 exposes the 0.8097-0.8138 area marked by a falling trend line and the 38.2% level. Alternatively, a turn back below the 14.6% retracement at 0.7872 clears the way for a challenge of the 0.7697-0.7708 area marked by the July 2013 bottom and the 61.8% Fib expansion.

While a long position seems tempting from a purely technical perspective, we will tactically opt to stand aside. The dominant down trend initiated in mid-July remains in place. Furthermore, the proximity of key event risk by way of US employment data warns against taking directional bets on sentiment-sensitive currencies, including the Kiwi. On balance, we will remain flat for now.

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

NZD/USD Technical Analysis: Kiwi Rallies Most in 4 Months

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.