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
Oil - US Crude
Mixed
Wall Street
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
Gold
Bearish
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • Elon tweeted that he 'kinda love Etsy' yet its shares didn't get a boost. Maybe not a total Midas touch, but seemingly pretty close
  • This is like someone turning off the garden hose next to multiple fire hydrants going going at full capacity, but it will definitely draw scrutiny against a backdrop of record highs and less-than-stellar growth/return forecasts https://t.co/07RzuIMaTt
  • NY Fed Operating Policy Statement: - Will no longer offer regularly-scheduled one-month term repos - Term repo operations for February 2 and 9 will be the last regularly-scheduled ones - Cites sustained smooth functioning of short-term U.S. dollar funding markets #Fed #FOMC $USD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/JPY are at opposite extremes with 66.57%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cn9Ae5xUC1
  • Heads Up:🇺🇸 Fed Press Conference due at 19:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-27
  • $DXY remains steady around 90.50 and US 10yr yields remain steady around 1.01% following no changes to FOMC policy. #Fed #FOMC $USD https://t.co/NhYv4pOTSo
  • FOMC Statement: - Asset purchases of $80b in Treasuries and $40b in Agency MBS to continue at current pace - Purchases will continue until "substantial further progress" has been made toward employment and inflation goals #Fed #FOMC $USD
  • FOMC Statement: - Ongoing health crisis will continue to weigh on economic activity, employment, and inflation in near term - Still poses considerable risks to the economic outlook in the medium term #Fed #FOMC $USD
  • FOMC Statement: - Pace of recovery in economic activity and employment has moderated in recent months - Path of economy depends on course of virus and progress on vaccinations #Fed #FOMC $USD
  • FOMC unsurprisingly leaves rates unchanged but weakens the language around the pace of recovery as they see growth moderating in recent months and in the future
NZD/USD Technical Analysis: Upswing to Yield Short Trade

NZD/USD Technical Analysis: Upswing to Yield Short Trade

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: 0.7344, 0.7280, 0.7175
  • Resistance:0.7448, 0.7532, 0.7616

The New Zealand Dollar continues to recover against its US counterpart after producing in a bullish Morning Star candlestick pattern. A daily close above the 38.2% Fibonacci retracement at 0.7448 exposes the 0.7501-32 area marked by channel floor support-turned-resistance and the 50% level. Alternatively, a move below the 23.6% Fib at 0.7344 clears the way for a test of the 14.6% retracement at 0.7280.

The current upswing appears corrective in the context of a larger NZDUSD down trend. With that in mind, we will stand aside for now, waiting for the move higher to be exhausted to enter short following the appearance of a defined bearish reversal signal.

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

NZD/USD Technical Analysis: Upswing to Yield Short Trade

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