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
Bullish
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • 🇪🇸 Business Confidence (FEB) Actual: -6.4 Previous: -3.8 https://www.dailyfx.com/economic-calendar#2021-02-25
  • Heads Up:🇪🇸 Business Confidence (FEB) due at 13:00 GMT (15min) Actual: -6.4 Previous: -3.8 https://www.dailyfx.com/economic-calendar#2021-02-25
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/3grrtjhcE2
  • 🇲🇽 Unemployment Rate (JAN) Actual: 4.7% Previous: 3.8% https://www.dailyfx.com/economic-calendar#2021-02-25
  • 🇲🇽 Economic Activity YoY (DEC) Actual: -2.7% Expected: -4.2% Previous: -3.9% https://www.dailyfx.com/economic-calendar#2021-02-25
  • 🇲🇽 GDP Growth Rate YoY Final (Q4) Actual: -4.3% Expected: -4.5% Previous: -8.6% https://www.dailyfx.com/economic-calendar#2021-02-25
  • 🇲🇽 Unemployment Rate (JAN) Actual: 4.7% Previous: 3.8% https://www.dailyfx.com/economic-calendar#2021-02-25
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/vsaRaJxhcd
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Litecoin are long at 89.49%, while traders in Wall Street are at opposite extremes with 80.48%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/jnkPdYm1EC
  • Heads Up:🇲🇽 Unemployment Rate (JAN) due at 12:00 GMT (15min) Previous: 3.8% https://www.dailyfx.com/economic-calendar#2021-02-25
NZD/USD Technical Analysis: Trying to Rekindle Uptrend

NZD/USD Technical Analysis: Trying to Rekindle Uptrend

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 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