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
Oil - US Crude
Bullish
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
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • DAX 30 struggles to clear key resistance as rising wedge pattern starts to form. Get your #DAX market update from @HathornSabin here:https://t.co/1YbfDlB0Ag https://t.co/lmMuxE4Uk6
  • EU and UK may reach deal by the end of the week - BBC political editor $GBP #Brexit
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.59% 🇨🇭CHF: 0.58% 🇪🇺EUR: 0.36% 🇳🇿NZD: 0.05% 🇯🇵JPY: -0.08% 🇬🇧GBP: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/nC1lCRvA7M
  • US House clears China delisting bill, sending it forward to President Trump - BBG $USD
  • 🇳🇿 Building Permits MoM (OCT) Actual: 8.8% Previous: 3.6% https://www.dailyfx.com/economic-calendar#2020-12-02
  • Heads Up:🇦🇺 Markit Services PMI Final (NOV) due at 22:00 GMT (15min) Previous: 53.7 https://www.dailyfx.com/economic-calendar#2020-12-02
  • $AUDUSD climbing to its strongest levels since 2018 on positive vaccine news and renewed US fiscal stimulus hopes Next key levels of resistance falling at the July 2018 high (0.7484) and the psychologically imposing 0.7500 mark. $AUD https://t.co/mluudxfVBv
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Gold: 0.90% Silver: 0.38% Oil - US Crude: -0.45% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/KWAG9XnWYR
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.46%, while traders in NZD/USD are at opposite extremes with 72.72%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/sRpA2Wewya
  • Heads Up:🇳🇿 Building Permits MoM (OCT) due at 21:45 GMT (15min) Previous: 3.6% https://www.dailyfx.com/economic-calendar#2020-12-02
NZD/USD Technical Analysis: Key Resistance in the Crosshairs

NZD/USD Technical Analysis: Key Resistance in the Crosshairs

2016-04-13 07:04:00
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
  • Kiwi Dollar gains for third day straight, moves to challenge March top
  • Bearish reversal cues remain as prices oscillate within a Rising Wedge

The New Zealand Dollar continues to accelerate upward against its US counterpart, with prices putting in the third consecutive day of gains. Overall positioning still looks to be taking the shape of a Rising Wedge pattern however, a setup that may he hinting at a looming reversal downward.

Near-term support is at 0.6905, the 23.6% Fibonacci expansion, with a turn back below that opening the door for a test of wedge floor support at 0.6807. Alternatively, a push above the 38.2% expansion at 0.6995 paves the way for a challenge of the 50% Fib at 0.7069.

Technical positioning appears to agree with our 2016 fundamental outlook, which envisions NZD/USD gains as corrective and argues for a selling into down trend resumption. Entry confirmation is absent for now however and we will remain on the sidelines until something actionable presents itself.

Which currencies are FXCM traders buying and selling? Find out here!

NZD/USD Technical Analysis: Key Resistance in the Crosshairs

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

DISCLOSURES