Skip to Content
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.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
NZD/USD Technical Analysis: Waiting to Re-Establish Short

NZD/USD Technical Analysis: Waiting to Re-Establish Short

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • NZD/USD Technical Strategy:Flat
  • Support: 0.7344, 0.7280, 0.7175
  • Resistance:0.7448, 0.7532, 0.7616

The New Zealand Dollar is attempting to build higher against its US counterpart after putting in a bullish Morning Star candlestick pattern. Near-term resistance is at 0.7448, the 38.2% Fibonacci retracement, with a break above that on a daily closing basis exposing the 0.7504-32 area marked by channel floor support-turned-resistance and the 50% level. Alternatively, a turn below the 23.6% Fib at 0.7344 opens the door for a challenge of the 14.6% retracement at 0.7280.

We see the dominant NZDUSD trend as favoring the downside. With that in mind, we will look to any on-coming gains as an opportunity to enter short at a more attractive level rather than as a stand-alone long trade setup. In the meantime, we remain flat.

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

Daily Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak, Currency Strategist for

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