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
Mixed
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
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.64%, while traders in EUR/USD are at opposite extremes with 73.15%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/qf5YETWpSO
  • The #USD technical outlook against #ASEAN FX remains broadly bearish, check out my latest update here - https://www.dailyfx.com/forex/technical/article/special_report/2020/12/03/US-Dollar-May-Stiill-Struggle-USDSGD-USDIDR-USDMYR-USDPHP.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/Uluv7XsimX
  • $EURUSD is currently facing down the midpoint of the 2014-2017 range and its historical range around 1.2125/50. How robust is this move? Is it more a Dollar slide or a Euro rally? I discuss that today: https://www.dailyfx.com/forex/video/daily_news_report/2020/12/03/EURUSD-Continued-Climb-to-Over-Two-Year-High-May-be-More-of-a-Euro-Move-than-Dollar.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/kas6ea1ShA
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.13% 🇨🇭CHF: 0.08% 🇪🇺EUR: 0.02% 🇨🇦CAD: -0.07% 🇳🇿NZD: -0.10% 🇦🇺AUD: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/P2eGs7wOLQ
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: France 40: -0.10% Wall Street: -0.14% US 500: -0.15% Germany 30: -0.23% FTSE 100: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/UTmuwSgVa6
  • Mayor of Los Angeles says the city is near 'devastating' tipping point following announcement of city wide stay-at-home order $DXY $SPX
  • Mayor of Los Angeles orders a stay-at-home order amid rising Covid cases $DXY $SPX
  • The dispute between the Federal Reserve and the Treasury Department concerned economists and government officials last week. Traders, however, appeared unfazed as U.S. equity markets proceeded to higher ground. Get your market update from @FxWestwater here:https://t.co/DKK7WWHKlu https://t.co/K1f9Y1h4sn
  • China official urges preparation for Covid vaccine production - Xinhua via BBG
  • Over the past seven days, $EUR has been the best performing G10 major vs the #USD with a 1.66% spot return while $GBP has been the worst at -0.11% spot return $EURUSD $GBPUSD $DXY
NZD/USD Technical Analysis: Kiwi Gains Most in 2 Months

NZD/USD Technical Analysis: Kiwi Gains Most in 2 Months

2016-11-03 09:08:00
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 posts largest daily advance in two months vs. US namesake
  • Waiting for signs of exhaustion on upswing to re-enter short position

The New Zealand Dollar moved sharply higher against its US namesake, posting the largest daily gain in two months and reclaiming the 0.72 figure. The longer-term bias continues to look bearish however, with gains appearing corrective in the context of a downward reversal defined in late September.

Near-term resistance is at 0.7302, the 50% Fibonacci expansion, with a break above that on a daily closing basis opening the door for a test of the 61.8% level at 0.7365. Alternatively, a turn back below the 38.2% Fib at 0.7239 sees the next downside barrier at 0.7161, the 23.6% expansion.

The second half of a NZD/USD position triggered at 0.7273 has been stopped out at breakeven after initial profits were booked on meeting the trade’s first objective. An actionable opportunity to re-establish exposure is absent for now absent clear-cut signs of bullish exhaustion. Standing aside seems prudent.

What do past NZD/USD price patterns hint about current trends? Find out here!

NZD/USD Technical Analysis: Kiwi Gains Most in 2 Months

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

DISCLOSURES