Skip to Content
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
NZD/USD Technical Analysis: Coiling Up Below 0.70 Figure

NZD/USD Technical Analysis: Coiling Up Below 0.70 Figure

Ilya Spivak,

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

Talking Points:

  • NZD/USD Technical Strategy: Flat
  • Kiwi Dollar stuck in a choppy range below 0.70 vs. US namesake
  • Back-to-back false starts, conflicting cues cloud near-term setup

The New Zealand Dollar is coiling up in a choppy range below the 0.70 figure against its US cousin as sellers struggle to build momentum after hitting an 11-month low. A myriad of conflicting cues and false starts makes for clouded near-term positioning.

Near-term support is at 0.6818 (May 11 low, 23.6% Fibonacci expansion), with a break below that on a daily closing basis paving the way for a challenge of the 38.2% level at 0.6737. Alternatively, a push above range resistance at 0.6969 opens the door for a test of double top resistance at 0.7054.

An NZD/USD short position activated at 0.6863 was closed as price action turned choppy below the 0.70 figure. The chart setup remains inconclusive. The overall trend seems to favor weakness but several attempts at building downside momentum have fizzled recently. Opting to stand aside seems prudent for now.

Have a question about trading NZD/USD? Join a trading Q&A webinar and ask it live!

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