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
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
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The US Dollar, British Pound, and Euro will all be closely watching key geopolitical developments in North America (Powell testimony), the UK (Brexit talks) and Europe (EU summit). Get your market update from @ZabelinDimitri here:https://t.co/q4AJW6PTCu https://t.co/aAhCrBCBtX
  • Gold and silver are at risk of extending their slide from monthly highs as the lack of additional fiscal stimulus and rising geopolitical tensions underpin USD. Get your market update from @DanielGMoss here: https://t.co/sYF5pV9zrE https://t.co/04Czwv3PpW
  • #Nasdaq 100 Recovering? Biden-Trump #Election2020 Betting Spread Widens⬇️ https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/09/22/Nasdaq-100-Recovering-Biden-Trump-Election-Betting-Spread-Widens.html
  • Join @ddubrovskyFX 's #webinar at 8:00 PM ET/00:00 PM GMT to find out what information you can gain from knowing what other traders are buying or selling. Register here: https://t.co/Bb3CTCTm44 https://t.co/QaZzPd0K6D
  • The US Dollar is struggling against ASEAN currencies despite weakness in the S&P 500. Capital remains flowing into emerging markets, keeping USD under pressure, could this change? Find out from @ddubrovskyFX here:https://t.co/nwhy3XhE74 https://t.co/7nvijaAruu
  • Retail CFD traders have poked their head back into net bullish territory - an uncommon territory - in their net positioning for the $DJIA (Wall Street). Skeptical of a breakdown it seems https://www.dailyfx.com/sentiment?ref-author=Kicklighter&CHID=9&QPID=917719 https://t.co/g12EqBGkGh
  • The Nasdaq 100-tracking QQQ ETF saw more than -$3.4 billion leave its coffers on Friday. Get your #Nasdaq market update from @PeterHanksFX here: https://t.co/NZWg2XrEuD https://t.co/S9uxEGzJjJ
  • The $QQQ ETF recently saw its largest outflow, followed by its largest inflow since October 2000 What does this mean for the Nasdaq? Read more - https://www.dailyfx.com/forex/market_alert/2020/09/22/Nasdaq-100-Forecast-Exodus-from-Tech-ETF-Has-Worrisome-Historical-Parallel.html?ref-author=phanks&QPID=917701&CHID=9 https://t.co/bS0V5IsS6Z
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.05% 🇳🇿NZD: -0.49% 🇪🇺EUR: -0.55% 🇨🇭CHF: -0.58% 🇬🇧GBP: -0.62% 🇦🇺AUD: -0.74% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/2JBbEKosO9
  • South African Rand clawing back yesterday’s depreciation against the US Dollar. Get your $USDZAR market update from @WVenketas here: https://t.co/9XCvJgRisU https://t.co/qk5KR4DncU
NZD/USD Technical Analysis: Trend Line Barrier in Focus

NZD/USD Technical Analysis: Trend Line Barrier in Focus

2015-03-25 02:18:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • NZD/USD Technical Strategy: Flat
  • Support: 0.7556, 0.7406, 0.7161
  • Resistance:0.7653, 0.7801, 0.7998

The New Zealand Dollar paused to digest gains against its US counterpart after pushing up against the upper boundary of a five-month downtrend. Near-term trend line resistance is at 0.7653, with a break above that on a daily closing basis exposing the 38.2% Fibonacci retracement at 0.7801.Alternatively, a reversal below the0.7556-608 area (December 9 low, 23.6% level) opens the door for a test of the 14.6% Fib at 0.7406.

Prices are too close to resistance to justify entering long from a risk/reward perspective. On the other hand, the absence of a defined bearish reversal signal suggests that taking up the short side is premature. With that in mind, we will remain flat for now.

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

NZD/USD Technical Analysis: Trend Line Barrier 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