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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The US Dollar remains under pressure against ASEAN currencies. USD/SGD and USD/MYR may extend losses as USD/PHP and USD/IDR face bullish technical signals. Get your #ASEAN currencies market update from @ddubrovskyFX here: https://t.co/C0YoIAxhRF https://t.co/M5JaY4P0h9
  • 🇦🇺 RBA Interest Rate Decision Actual: 0.25% Expected: 0.25% Previous: 0.25% https://www.dailyfx.com/economic-calendar#2020-08-04
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.43%, while traders in US 500 are at opposite extremes with 77.94%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/IhzgYE3BMN
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.08% 🇪🇺EUR: 0.06% 🇦🇺AUD: 0.03% 🇨🇦CAD: -0.01% 🇨🇭CHF: -0.04% 🇯🇵JPY: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/gFx2jU0MMn
  • Heads Up:🇦🇺 RBA Interest Rate Decision due at 04:30 GMT (15min) Expected: 0.25% Previous: 0.25% https://www.dailyfx.com/economic-calendar#2020-08-04
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.03% US 500: -0.02% Germany 30: -0.08% France 40: -0.09% FTSE 100: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/E59rijEnLv
  • The Japanese Yen may fall against its major counterparts as it enters the second half of an 8-year cycle. AUD/JPY, EUR/JPY rates eye push to fresh yearly highs. Get your $JPY market update from @DanielGMoss here:https://t.co/EZUxcQa9dq https://t.co/NfPDVPk8Gi
  • The correlation b/w the Australian Dollar and #SP500 seems to be breaking down ahead of the #RBA rate decision Join me at 4:15 GMT (in 30 minutes) for an in-depth discussion as I cover the RBA and AUD outlook (see link below) https://t.co/TeGrvZaXx7 https://t.co/EFtYF6u7y3
  • The Euro may pay the price for the EU’s stance on its digital sovereignty while the US Dollar eyes closely-scrutinized US fiscal stimulus talks.. Get your market update from @ZabelinDimitri here: https://t.co/Ga3DdHFNYR https://t.co/9jpieAjLnN
  • Join @ddubrovskyFX's #webinar at 12:15 AM ET/4:15 GMT for live data coverage of the #RBA rate decision here: https://t.co/iPXfmR9F5F https://t.co/xXaci3e9W9
NZD/USD Technical Analysis: Trying to Rekindle Uptrend

NZD/USD Technical Analysis: Trying to Rekindle Uptrend

2017-06-13 19:44:00
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 attempting to rekindle stalled upward momentum
  • Risk/reward parameters argue against long trade on breakout

The New Zealand Dollar is attempting to renew upward momentum as prices fight to trigger a test of trend resistance capping gains since September 2016. The pair has been digesting gains near the 0.72 figure but a strong push to four-month highs now looks like it may have follow-on potential.

Confirmation of a break beyond the 50% Fibonacci expansion at 0.7211 on a daily closing basis opens the door for a test of the 61.8% level at 0.7246. Alternatively, a reversal back below the 38.2% Fib at 0.7175 exposes the 23.6% expansion at 0.7130 anew.

Even if the break is confirmed, the near-term trading range is a bit too narrow relative to ATR studies to justify getting long from a risk/reward perspective. With that in mind, opting for the sidelines seems most prudent until an actionable trading opportunity presents itself.

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

NZD/USD Technical Analysis: Trying to Rekindle Uptrend

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

DISCLOSURES

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.