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
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
Oil - US Crude
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
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
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
GBP/USD
Mixed
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
Breaking news

ECB leaves monetary policy unchanged

Real Time News
  • 🇺🇸 CB Leading Index MoM (MAR) Actual: 1.3% Expected: 1% Previous: -0.1% https://www.dailyfx.com/economic-calendar#2021-04-22
  • Please join us at 11:00 EST/15:00 GMT for a webinar where you can learn how to identify price trends with trader sentiment. Register here: https://t.co/qguzXYUjTo https://t.co/Jw6GVisPdx
  • 🇺🇸 Existing Home Sales MoM (MAR) Actual: -3.7% Expected: 0.8% Previous: -6.3% https://www.dailyfx.com/economic-calendar#2021-04-22
  • 💶 Consumer Confidence Flash (APR) Actual: -8.1 Expected: -10.8 Previous: -10.8 https://www.dailyfx.com/economic-calendar#2021-04-22
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.80%, while traders in Wall Street are at opposite extremes with 68.46%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/y6X7PjFiad
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/EK6KvR4cep
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.13% Gold: -0.55% Silver: -1.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/yv4Ft3frWO
  • Heads Up:🇺🇸 Existing Home Sales MoM (MAR) due at 14:00 GMT (15min) Expected: 0.8% Previous: -6.6% https://www.dailyfx.com/economic-calendar#2021-04-22
  • Heads Up:🇺🇸 CB Leading Index MoM (MAR) due at 14:00 GMT (15min) Expected: 1% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2021-04-22
  • Heads Up:💶 Consumer Confidence Flash (APR) due at 14:00 GMT (15min) Expected: -10.8 Previous: -10.8 https://www.dailyfx.com/economic-calendar#2021-04-22
NZD/USD Technical Analysis: Rejected at Range Top Again

NZD/USD Technical Analysis: Rejected at Range Top Again

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • NZD/USD Technical Strategy: Pending short at 0.7205
  • Kiwi Dollar retreats after testing familiar range top once again
  • Looking to enter short position on a test above the 0.72 figure

The New Zealand Dollar recoiled downward after testing now-familiar range resistance above the 0.72 figure, hinting at renewed selling ahead against the currency’s US cousin. Overall chart positioning has argued for a bearish bias since a top was established in early February, as expected.

Near-term support is at 0.7138, the 38.2%Fibonacci expansion, with a break below that opening the door for a challenge of the 50% level at 0.7064. Alternatively, a daily close above the 0.7229-39 area (23.6% Fib, December 14 high) paves the way for a test of the 0.7376-0.7403 zone (November 8, February 7 highs).

Prices are a bit too far below the range top to justify entering short currently from a risk/reward perspective. Instead, an entry order to sell the pair will be established at 0.7205. If triggered, the position will initially target 0.7138 and carry a stop-loss activated on a daily close above 0.7239.

Where will NZD/USD go next? Join a Trading Q&A webinar and ask us live!

NZD/USD Technical Analysis: Rejected at Range Top Again

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

DISCLOSURES