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
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
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
More View more
Real Time News
  • 🇯🇵 Eco Watchers Survey Outlook (FEB) Actual: 51.3 Previous: 39.9 https://www.dailyfx.com/economic-calendar#2021-03-08
  • Gold, Crude Oil Price Forecast: Edging Higher on the Back of Stimulus, Saudi Oil Facility Attack https://www.dailyfx.com/forex/market_alert/2021/03/08/Gold-Crude-Oil-Price-Forecast-Edging-Higher-on-the-Back-of-Stimulus-Saudi-Oil-Facility-Attack.html https://t.co/ZXrwjTaK3W
  • 🇯🇵 Eco Watchers Survey Current (FEB) Actual: 41.3 Previous: 31.2 https://www.dailyfx.com/economic-calendar#2021-03-08
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/ZdQnb2WoEc
  • Heads Up:🇯🇵 Eco Watchers Survey Outlook (FEB) due at 06:00 GMT (15min) Previous: 39.9 https://www.dailyfx.com/economic-calendar#2021-03-08
  • Heads Up:🇯🇵 Eco Watchers Survey Current (FEB) due at 06:00 GMT (15min) Previous: 31.2 https://www.dailyfx.com/economic-calendar#2021-03-08
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.46%, while traders in France 40 are at opposite extremes with 76.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7GEejdJ4ZR
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.26% 🇯🇵JPY: 0.03% 🇨🇦CAD: 0.02% 🇬🇧GBP: -0.06% 🇳🇿NZD: -0.06% 🇨🇭CHF: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/RksdDJPivS
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.80% France 40: 0.61% Germany 30: 0.41% Wall Street: 0.04% US 500: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/PDpZBRrLRJ
  • 🇯🇵 Leading Economic Index Prel (JAN) Actual: 99.1 Previous: 97.7 https://www.dailyfx.com/economic-calendar#2021-03-08
NZD/USD Technical Analysis: 19-Month Resistance Under Fire

NZD/USD Technical Analysis: 19-Month Resistance Under Fire

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • NZD/USD Technical Strategy: Flat
  • New Zealand Dollar moves to challenge 19-month resistance vs. US counterpart
  • Looking for actionable confirmation of bearish reversal to initiate short position

The New Zealand Dollar finds itself at trend-setting resistance that has capped gains versus the currency’s US counterpart since early July 2014. The pair’s behavior at this critical juncture may prove defining for trend development in the weeks and months ahead.

A daily close above the 76.4% Fibonacci retracement at 0.6757 opens the door for a test double top resistance in the 0.6883-97 area. Alternatively, move back below the 61.8% Fib at 0.6678 paves the way for a challenge of the 50% level at 0.6615.

We are keen to enter short NZD/USD in line with the long-term downward trajectory. An actionable reversal signal triggering the position is absent for the time being however. With that in mind, we will remain on the sidelines until a compelling setup presents itself.

Does the NZD/USD chart setup agree with our 2016 outlook? Find out here!

NZD/USD Technical Analysis: 19-Month Resistance Under Fire

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

DISCLOSURES