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.



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
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
Wall Street
More View more
Real Time News
  • US macro data were largely mixed overnight, with the initial jobless claims showing further weakness while durable goods orders beat expectations. The weekly jobless claim report registered 778k for the week ending Nov 21, marking a fifth-week high (chart below).
  • Singapore's Straits Times Index might be vulnerable to a technical pullback after rising more than 19% in November. An immediate support level can be found at 2,800.
  • Gold and silver prices have come under significant pressure recently. However, this correction lower could prove short-lived as price analysis hints at a reversal higher. Get your $XAUUSD market update from @DanielGMoss here:
  • Australian Dollar to Rise as Easing Border Restrictions Buoy Sentiment - $AUD $AUDJPY $AUDUSD
  • 🇰🇷 Interest Rate Decision Actual: 0.5% Expected: 0.5% Previous: 0.5%
  • Bank of Korea: 2020 GDP growth seen at -1.1% versus -1.3% projected in August, 2021 GDP growth seen at 3.0% versus 2.8% anticipated prior -BBG
  • Heads Up:🇰🇷 Interest Rate Decision due at 01:00 GMT (15min) Actual: 0.5% Expected: 0.5% Previous: 0.5%
  • 7 out of 11 Dow Jones sectors ended lower, with about 63.3% of the index’s constituents closing in the red. Energy (-3.64%) , materials (-2.25%) and communication services (-1.24%) were among the worst performers on Wednesday.
  • Australian Private Capital Expenditure -3.0% in Q3 vs -1.5% expected and from -6.4% in Q2 (revised worse from -5.9%), $AUDUSD little changed so far -BBG
  • RT @FxWestwater: New Zealand Dollar Forecast: $NZDUSD May Rise Over Thanksgiving Holiday Link:…
NZD/USD Technical Analysis: Trend-Defining Top May Be in Place

NZD/USD Technical Analysis: Trend-Defining Top May Be in Place

2017-08-24 04:15:00
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 carves out dramatic Head and Shoulders topping pattern
  • Entering short position seems premature pending further confirmation

The New Zealand Dollar may have carved out a dramatic Head and Shoulders topping pattern against its US counterpart that implies a return to 2017 lows ahead. Positive RSI divergence warns of ebbing downward momentum however, cautioning against taking the setup at face value (at least for now).

Near-term support is at 0.7188, the 50% Fibonacci retracement, with a daily close below that opening the door for a challenge of the 61.8% level at 0.7101. Alternatively, a move back above the H&S pattern’s neckline at 0.7229 sees the next major upside barrier at 0.7337, the August 21 high.

While tempting, entering short seems premature for now. Prices are sitting atop a support level and RSI positioning is worrisome. Furthermore, the upcoming speech from Janet Yellen at the Jackson Hole symposium amounts to potent event risk that may significantly alter the overall setup.

Having trouble with NZD/USD? See the #1 mistake that traders make and learn how to fix it!

NZD/USD Technical Analysis: Trend-Defining Top May Be in Place

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