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.



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
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
Wall Street
More View more
Real Time News
  • The US Dollar will be bracing for a cascade of political risks including the first presidential debate, ongoing stimulus talks, the Supreme Court vacancy against the backdrop of key employment data. Get your #currencies update from @ZabelinDimitri here:
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your $USDINR market update from @ddubrovskyFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out:
  • Weakness in equity markets continued last week as losses built and technical patterns hint further bearishness might be ahead. Get your #equities update from @PeterHanksFX here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:
  • #Gold prices succumbed to selling pressure as the US Dollar soared this past week What is #XAUUSD facing these next few days and can these fundamental forces extend its selloff? Check out my outlook here -
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
NZD/USD Technical Analysis: 0.7000 Could Be Key Going Forward

NZD/USD Technical Analysis: 0.7000 Could Be Key Going Forward

2016-07-28 10:13:00
Oded Shimoni, Junior Currency Analyst

Talking Points:

- NZD/USD having problem cracking resistance at 0.7120

- Further upside conviction might need to see a break above resistance at 0.7250

- 2.25% Official Cash Rate might be keeping the Kiwi bid, key intra-day levels here

Learn good trading habits with the “Traits of successful traders”.

The NZD/USD is trading higher after the FOMC rate decision, but the pair seems to be having trouble breaking long term resistance at 0.7120 at the time of writing.

The pair has seen a bounce higher after finding support at a zone below the 0.7000 handle following sharp decline last week.

At this stage, the NZD/USD might need to see further strength to move above the 0.7120 resistance, which could indicate another attempt to make new highs. A break above may expose what could be a key resistance area below the 0.7250 level, which coincides with the 0.38 Fib of the downtrend starting from July 2014.

A hold below the 0.7120 level might imply that the latest push higher is corrective and could put the focus again on the 0.7000 figure for possible support. A move below the 0.70 figure will change the current market “structure” and might have eyes on 0.69 and 0.67 for potential support.

Meanwhile, the DailyFX Speculative Sentiment Index (SSI) is showing that about 46.4% of traders are long the NZD/USD at the time of writing. The SSI is mainly used as a contrarian indicator, implying a slight long bias.

You can find more info about the DailyFX SSI indicator here.

NZD/USD Daily Chart: July 28, 2016

NZD/USD Technical Analysis: 0.7000 Could Be Key Going Forward

--- Written by Oded Shimoni, Junior Currency Analyst for

To contact Oded Shimoni, e-mail

Follow him on Twitter at @OdedShimoni

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