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
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
Wall Street
Bullish
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
Bearish
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
More View more
Real Time News
  • US calls for pause on J&J vaccine after clotting cases- NYT
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.36%, while traders in France 40 are at opposite extremes with 75.40%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/aAIOaR5TbE
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.02% Silver: 0.42% Gold: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/irypduGm1S
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.07% 🇳🇿NZD: 0.06% 🇯🇵JPY: 0.05% 🇪🇺EUR: -0.13% 🇨🇦CAD: -0.18% 🇨🇭CHF: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/inXDMThUZd
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/xrWKTp7SzU
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 0.33% Germany 30: 0.28% Wall Street: 0.18% US 500: 0.13% FTSE 100: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/uRvdwUEYPt
  • UBS forecast a further weakening in gold ($1600/oz by year end) $XAU
  • NATO Chief says Russia must withdraw its forces from Ukrainian territory
  • Coming up in 20' - my weekly webinar on market sentiment. I'll be looking at the charts of all the major assets, at the sentiment data on the calendar and at the @IGcom client sentiment data. Do join me if you can https://t.co/5dY259LNIL
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here: https://t.co/i8E2AXtzF3 https://t.co/VJ27csghPV
NZD/USD Technical Analysis: Bounce to Yield Short Entry

NZD/USD Technical Analysis: Bounce to Yield Short Entry

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: 0.7787, 0.7624, 0.7533
  • Resistance:0.7930, 0.8076, 0.8221

The New Zealand Dollar launched sharply higher against its US namesake following the RBNZ monetary policy announcement. A daily close above the 0.7897-0.7930area marked by the 23.6% Fibonacci retracement and a falling channel top exposes the 38.2% level at 0.8076. Alternatively, a reversal below the 14.6% Fib at 0.7787 opens the door for a test of the channel floor at 0.7624.

We will tactically opt against entering long. The markets appear enveloped by seasonal profit-taking on risk-geared positions, as expected. That may bode ill for the sentiment-sensitive Kiwi, meaning the up move might swiftly fizzle. As such, we will remain flat and look for the bounce to yield a selling opportunity in line with the larger trend.

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

NZD/USD Technical Analysis: Bounce to Yield Short Entry

Daily Chart - Created Using FXCM Marketscope

--- 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