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
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.83% 🇦🇺AUD: 0.55% 🇨🇭CHF: 0.49% 🇳🇿NZD: 0.12% 🇨🇦CAD: 0.06% 🇯🇵JPY: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/U2Uq3eweT2
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.76% US 500: 1.50% Germany 30: -0.07% France 40: -0.25% FTSE 100: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/r8sNbOElUm
  • The ECB make no qualms about recognizing the Euro's impact on their policies (they didn't just a few years ago), but they still suggest they will only target the symptom (lacking inflation) rather than the cause (rising currency). Now, if their language starts to shift... https://t.co/f25EvBsfJf
  • Cable with a strong bounce from Fibo support $GBPUSD - higher-low support potential 2785-2815 https://t.co/kKURzmx61S https://t.co/iJIi1jy2uF
  • US 3-Month Bills Draw 0.100% Primary Dealers Awarded: 49.0% Indirect Bidders Accepted: 45.6% Direct Bidders Accepted: 5.3% B/C Ratio: 2.88
  • Technical Trade Levels: #Dollar, #Euro, #Sterling, #Aussie, #Gold, $SPX500 & More!- Webinar Archive - https://t.co/Kt5ikQmjG4
  • ECB's Lagarde says clear that external value of Euro has impact on inflation, adds that the ECB monitors FX movements $EUR
  • Dow, Nasdaq Rally as USD Pulls Back to Start a Busy Week https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/09/28/Dow-Nasdaq-Rally-as-USD-Pulls-Back.html https://t.co/YaFmp8eCqi
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.84% 🇦🇺AUD: 0.46% 🇪🇺EUR: 0.19% 🇳🇿NZD: 0.06% 🇨🇦CAD: 0.06% 🇯🇵JPY: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/yqSnFMey6l
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 3.35% France 40: 2.76% FTSE 100: 2.04% Wall Street: 1.79% US 500: 1.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/kD54uFfXzs
NZD/USD Technical Analysis: Monthly High Back in Play

NZD/USD Technical Analysis: Monthly High Back in Play

2017-06-27 07:16:00
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 testing monthly highs vs. US counterpart again
  • Early RSI divergence may be forming but clear signal absent

The New Zealand Dollaris once again testing familiar resistance above the 0.73 figure marking a five-month high against its US counterpart. Early hints at negative RSI divergence – a sign of ebbing upside momentum – may be starting to take shape but a clear-cut bearish reversal signal is decidedly absent.

A daily close above the June 14 high at 0.7320 opens the door for a challenge of the 0.7377-82 area (38.2% Fibonacci expansion, double top). Alternatively, a turn back below 0.7259 (rising trend line, 14.6% level) paves the way for a retest of the June 15 low at 0.7186.

An actionable trade setup is absent at this point. Prices are too close to resistance to justify chasing the near-term up move from a risk/reward perspective. On the other hand, taking up the short side seems premature without defined signs of topping. As such, standing aside seems most attractive for now.

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

NZD/USD Technical Analysis: Monthly High Back in Play

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

DISCLOSURES