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
Bearish
Wall Street
Mixed
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
Bullish
GBP/USD
Mixed
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
USD/JPY
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
More View more
Real Time News
  • RT @FxWestwater: #Euro Technical Analysis: $EURUSD, $EURAUD, $EURNZD, $EURJPY Chart Setups Link: https://www.dailyfx.com/forex/market_alert/2021/04/22/Euro-Technical-Analysis-EURUSD-EURAUD-EURNZD-EURJPY-Chart-Setups.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/nX…
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.07% Silver: -0.25% Oil - US Crude: -0.82% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/24SAvh8ude
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/egstowtltH
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.12% 🇬🇧GBP: 0.09% 🇪🇺EUR: 0.09% 🇦🇺AUD: 0.04% 🇨🇦CAD: 0.01% 🇳🇿NZD: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/D9tyhgy0CG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.65%, while traders in Wall Street are at opposite extremes with 71.89%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/YldZ1a7abi
  • Update on #Cryptocurrencies #BITCOIN -2.72% #BITCOINCASH -5.01% #ETHEREUM +5.15% #RIPPLE -4.21% #LITECOIN -0.24% #DOGECOIN -5.15%
  • Tokyo Governor Yuriko Koike asked central government to declare state of emergency -BBG
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/EXYkozlj21
  • 🇯🇵 Foreign Bond Investment (17/APR) Actual: ¥906.5B Previous: ¥1715.5B https://www.dailyfx.com/economic-calendar#2021-04-21
  • Heads Up:🇯🇵 Foreign Bond Investment (17/APR) due at 23:50 GMT (15min) Previous: ¥1714.4B https://www.dailyfx.com/economic-calendar#2021-04-21
NZD/USD Technical Analysis: Surge Higher Pausing at Resistance

NZD/USD Technical Analysis: Surge Higher Pausing at Resistance

Oded Shimoni, Junior Currency Analyst

Talking Points:

- NZD/USD having problems at a key resistance zone above 0.7200

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

- Kiwi was the second best performing currency against the US Dollar last week

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

The NZD/USD surged higher following Friday’s US GDP figures miss, and was the second best performing currency versus the US Dollar last week (besides the Yen).

The pair has seen a bounce higher after finding support at a zone below the 0.7000 handle and managed to clear interim resistance at 0.7120.

At the moment, the NZD/USD is trading at what appears to be a key resistance area between the 0.72 handle (which coincides with the 0.38 Fib of the downtrend starting from July 2014) and 0.7250.

A hold below that zone might put the focus on 0.7120 for possible support, followed by the 0.7000 figure.

A break above the zone could convey strong bullish intentions which seems likely to put eyes on the last swing high at the 0.73247 level, that coincides with possible channel trend line resistance.

Meanwhile, the DailyFX Speculative Sentiment Index (SSI) is showing that about 36.7% of traders are long the NZD/USD at the time of writing. The SSI is mainly used as a contrarian indicator, implying possible strength ahead.

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

NZD/USD Daily Chart: August 1, 2016

NZD/USD Technical Analysis: Surge Higher Pausing at Resistance

--- Written by Oded Shimoni, Junior Currency Analyst for DailyFX.com

To contact Oded Shimoni, e-mail oshimoni@dailyfx.com

Follow him on Twitter at @OdedShimoni

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

DISCLOSURES