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
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
Mixed
Gold
Mixed
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
  • 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
  • 💶 ZEW Economic Sentiment Index (APR) Actual: 66.3 Previous: 74 https://www.dailyfx.com/economic-calendar#2021-04-13
  • This marks the first drop in the indicator since November 2020 https://t.co/1WjxJxi7th
  • 🇩🇪 ZEW Current Conditions (APR) Actual: -48.8 Expected: -53 Previous: -61 https://www.dailyfx.com/economic-calendar#2021-04-13
NZD/USD Technical Analysis: Support Below 0.77 in Focus

NZD/USD Technical Analysis: Support Below 0.77 in Focus

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: 0.7691, 0.7580, 0.7401
  • Resistance:0.7860, 0.7974, 0.8034

The New Zealand Dollar continues to pull back against its US counterpart, nearly erasing the upswing following last week’s RBNZ monetary policy announcement. Near-term support is at 0.7691, the 14.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the intersection of channel floor support and the 23.6% level at 0.7580. Alternatively, a break above channel top resistance at 0.7860 clears the way for a challenge of the November 17 high at 0.7974.

Risk/reward considerations argue against entering short with prices 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, waiting for a more actionable opportunity to present itself.

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

NZD/USD Technical Analysis: Support Below 0.77 in Focus

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