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: Trying to Renew Down Trend

NZD/USD Technical Analysis: Trying to Renew Down Trend

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

Talking Points:

  • NZD/USD Technical Strategy:Flat
  • Support: 0.7469, 0.7405, 0.7301
  • Resistance:0.7532, 0.7616, 0.7721

The New Zealand Dollar is attempting to renew its down trend against the US Dollar but follow-through is lacking for the time being. Near-term support is at 0.7469, the 14.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 23.6% level at 0.7405. Alternatively, a reversal above the intersection of channel support-turned-resistance and the 50% Fib retracementat 0.7532 opens the door for a challenge of the 61.8% threshold at 0.7616..

The available trading range is too narrow to justify entering a trade on the long or short side from a risk/reward perspective. With that in mind, we will remain flat for now, waiting for price action to offer a more compelling opportunity down the road.

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.