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
More View more
Real Time News
  • 🇫🇷 Consumer Confidence (SEP) Actual: 102 Expected: 100 Previous: 99
  • What is your forex trading style? Take the quiz and find out:
  • Heads Up:🇫🇷 Consumer Confidence (SEP) due at 06:45 GMT (15min) Expected: 100 Previous: 99
  • 🇩🇪 GfK Consumer Confidence (OCT) Actual: 0.3 Expected: -1.6 Previous: -1.1
  • Heads Up:🇩🇪 GfK Consumer Confidence (OCT) due at 06:00 GMT (15min) Expected: -1.6 Previous: -1.2
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • US #NaturalGas futures (Henry Hub) shoot past 6USD during Tuesday's Asia-Pacific trading session (though prices have trimmed most gains), nearing the 2014 high Prices have climbed over 37% since September 23rd
  • WTI #CrudeOil prices extend gains during Tuesday's Asia-Pacific trading session, nearing the July high at 76.95 Prices are up almost 0.9% on the day so far
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • Brent oil prices hit $80 per barrel for the first time since October 2018 #trading #OOTT
NZD/USD Technical Analysis: A Top in Place Below 0.74?

NZD/USD Technical Analysis: A Top in Place Below 0.74?

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • NZD/USD Technical Strategy: Flat
  • Kiwi Dollar may have topped below 0.74 figure vs. US counterpart
  • Waiting for passage of event risk, improved risk/reward to enter short

The New Zealand Dollar may have put in a top against its US counterpart, with prices showing a Bearish Engulfing candle pattern and breaching near-term trend support. The appearance of negative RSI divergence hints at ebbing upside momentum and bolsters the case for a downside scenario.

From here, a daily close below the 14.6% Fibonacci expansion at 0.7259 opens the door for a challenge of the 23.6% level at 0.7203. Alternatively, a reversal above the January 31 high at 0.7350 paves the way for a retest of the November 8 2016 swing high at 0.7403.

Prices are too close to near-term support to justify entering a short trade from a risk/reward perspective. Furthermore, on-coming event by way of the US jobs report seems to carry significant downside risk for the greenback. As such, standing aside seems prudent for now.

Are retail traders buying or selling NZD/USD and what does it mean for the trend? Find out here!

NZD/USD Technical Analysis: A Top in Place Below 0.74?

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