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.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bearish
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
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.89%, while traders in US 500 are at opposite extremes with 75.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/jJf4VBBPOr
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.72% Gold: -0.03% Silver: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/HD3d67xvtz
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.93% 🇬🇧GBP: 0.57% 🇨🇦CAD: 0.45% 🇪🇺EUR: 0.34% 🇨🇭CHF: -0.10% 🇯🇵JPY: -0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1d82miYwh3
  • Coming up at half past the hour: my weekly webinar on market #sentiment. Please join me if you can. You can sign up here: https://www.dailyfx.com/webinars/181540619?ref-author=essex&CHID=9&QPID=917711
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 1.74% Germany 30: 1.12% FTSE 100: 0.88% Wall Street: 0.77% US 500: 0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/1IbO8jbvOv
  • Russia and other nations are said to prefer a 1-month OPEC+ production cut extension #OOTT
  • Canadian Dollar: USD/CAD Price -Accelerated Bearish Momentum More details in the link: https://www.dailyfx.com/forex/technical/home/analysis/usd-cad/2020/06/02/Canadian-Dollar-USDCAD-Price-Accelerated-Bearish-Momentum-MK.html?CHID=9&QPID=917714 https://t.co/seBugrGVVC
  • RT @Monte_IG: EUR/USD has already breached today's key pivot point, more gains would aid conformist buy breakout strategies in line with it…
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/ACw6v5RYKn
  • 🇬🇧 Mortgage Lending Actual: £0.3B Expected: £1.149B Previous: £4.80B https://www.dailyfx.com/economic-calendar#2020-06-02
NZD/USD Technical Analysis: Selloff Stalls Near 0.64 Figure

NZD/USD Technical Analysis: Selloff Stalls Near 0.64 Figure

2016-01-19 05:21:00
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
  • New Zealand Dollar Selloff Stalls as Prices Find Interim Support Near 0.64 Figure
  • Profit Taken on Half of Short Position, Stop Moved to Breakeven on the Remainder

The New Zealand Dollar has stalled having found interim support below the 0.64 figure against its US counterpart after touching the lowest level in three months. The move higher to close a downside gap at the start of this trading week marked the largest advance in three weeks.

Sellers are now testing the 0.6397-0.6429 area, bracketed by resistance-turned-support dating back to September and the November 18 low. A break below this barrier on a daily closing basis opens the door for a challenge of the 123.6% Fibonacci expansion at 0.6303. Alternatively, a reversal back above the 76.4% level at 0.6525 paves the way for a test of the 61.8% Fib at 0.6593.

We entered short NZD/USD at 0.6493 and have since booked profits on half of the position. The remainder of the trade remains in play to capture any further downside momentum. The stop-loss has been adjusted to the breakeven level.

Losing Money Trading Forex? This Might Be Why.

NZD/USD Technical Analysis: Selloff Stalls Near 0.64 Figure

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

DISCLOSURES

News & Analysis at your fingertips.