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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
NZD/USD Technical Analysis: Opting to Pass on Long Trade

NZD/USD Technical Analysis: Opting to Pass on Long 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: 0.6814, 0.6745, 0.6657
  • Resistance:0.6950, 0.7033, 0.7169

The New Zealand Dollar put in a bullish Morning Star candlestick pattern, hinting a move higher against its US counterpart may be brewing ahead. A daily close above the 14.6% Fibonacci retracement at 0.6950 exposes the 23.6% level at 0.7033. Alternatively, a reversal below the June 23 low at 0.6814 clears the way for a challenge of falling channel floor support at 0.6745.

Entering long looks rather tempting from a technical and risk/reward perspective. The fundamental backdrop is worrisome however, with the upcoming set of Trade Balance figures threatening to boost RBNZ rate cut expectations and Greece-linked news-flow threatening to unleash risk aversion and sting the sentiment-geared Kiwi. With that in mind, we will begrudgingly opt to stand aside for now.

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

--- Written by Ilya Spivak, Currency Strategist for

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