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
Oil - US Crude
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
NZD/USD Technical Analysis: Prices Probe Two-Month High

NZD/USD Technical Analysis: Prices Probe Two-Month High

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 jumps to highest in nearly two months vs. US namesake
  • Looking for upswing to fizzle to enter short in line with long-term down trend

The New Zealand Dollar is attempting to renew upside momentum against its US namesake as prices broke upward to the highest level in nearly two months. The currency mounted a swift advance following an unexpectedly strong set of trade figures.

Near-term resistance is at 0.6746, the 50% Fibonacci expansion, with a break above that on a daily closing basis exposing the 61.8% level at 0.6794. Alternatively, a reversal below the 38.2% Fib at 0.6699 paves the way for a challenge of rising trend line support set from late January, now at 0.6631.

We expect continuation of the dominant NZD/USD down trend, in line with our 2016 fundamental forecast. This paints the recent upswing as corrective, but an actionable short trade setup is absent at this point. With that in mind, we will remain flat for the time being.

Losing money trading NZD/USD? This might be why.

NZD/USD Technical Analysis: Prices Probe Two-Month High

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