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.

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
Subscribe
Please try again
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
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
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
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
Bullish
More View more
Real Time News
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.21% 🇨🇦CAD: 0.19% 🇯🇵JPY: 0.13% 🇬🇧GBP: 0.12% 🇪🇺EUR: 0.11% 🇨🇭CHF: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/8JU9UqUVzl
  • BoJ's Kuroda: - Mergers are an option for regional banks facing tougher operating conditions - BBG $USDJPY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.23%, while traders in GBP/USD are at opposite extremes with 64.62%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/L6KG8KlynJ
  • (APAC Stocks Briefing) Dow Jones, Nasdaq 100, Nikkei 225, ASX 200 Outlook Vulnerable After 2008 High US CPI #DowJones #NASDAQ #Nikkei #ASX200 #CPI #Fed https://www.dailyfx.com/forex/market_alert/2021/05/13/Dow-Jones-Nasdaq-100-Nikkei-225-ASX-200-Outlook-Vulnerable-After-2008-High-US-CPI.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/KpkCUa9GNQ
  • The British Pound gained aggressively, placing the focus on levels that may send GBP/USD and GBP/JPY lower, with EUR/GBP still open to a turn higher. Will Sterling’s advance continue? Get your $GBP market update from @ddubrovskyFX here:https://t.co/PHoCHVc20M https://t.co/2nh9kXtEG7
  • Yuan reference rate set at 6.4612 versus USD - BBG
  • Heads Up:🇦🇺 Consumer Inflation Expectations (MAY) due at 01:00 GMT (15min) Previous: 3.2% https://www.dailyfx.com/economic-calendar#2021-05-13
  • #Bitcoin weakness intensifies following Tesla CEO Elon Musk announcing a suspension of payments with the cryptocurrency. $BTCUSD now trading just below the 49,000 level. https://t.co/nFWeCTZll3
  • The Dow Jones and S&P 500 outlook appears bleak in the near term as retail traders increase their upside exposure. At the same time, these indices confirmed bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/fKCHEKUd8O https://t.co/wWHBwTkp8Q
  • Odds of a #Fed rate hike by the end of next year jumped following the US CPI report Overall bets of a 25bp hike are up about 35% since the end of last week after #NFPs We still have Fedspeak left this week, but thus far seems markets have been focusing on the data https://t.co/6JR2qzCVg9
NZD/USD Technical Analysis: Slow Grind Higher Continues

NZD/USD Technical Analysis: Slow Grind Higher Continues

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: 0.7905, 0.7831, 0.7682
  • Resistance:0.7973, 0.8051, 0.8138

The New Zealand Dollar advanced as expected against its US namesake after prices forming a bullish Piercing Line candlestick pattern. Near-term resistance is at 0.7973, the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the intersection of a rising channel top and the February 4 low at 0.8051. Alternatively, a turn below resistance-turned-support at 0.7905 clears the way for a challenge of the channel floor at 0.7831.

Prices are wedged too closely between near-term support and resistance levels to justify a trade on the long or short side from a risk/reward perspective. We will remain on the sidelines, waiting for a more compelling opportunity to emerge.

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

NZD/USD Technical Analysis: Slow Grind Higher Continues

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