Never miss a story from Ilya Spivak

Subscribe to recieve updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from Daily FX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Ilya Spivak

You can manage you subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

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

Talking Points:

  • NZD/USD Technical Strategy: Flat
  • Kiwi Dollar breaks key trend resistance, hinting at further gains ahead
  • Negative RSI divergence warns against chasing prices higher however

The New Zealand Dollar appears poised to continue building higher against its US namesake after breaking resistance capping prices since late July 2017. Early signs of negative RSI divergence warn that upside momentum may be fading however, with a reversal downward possibly to follow.

From here, a turn back below the 50% Fibonacci retracement at 0.7170 would break the near-term uptrend and open the door for a retest of the 38.2% level at 0.7077. Alternatively, a push above the 61.8% Fib at 0.7261 paves the way for a challenge of the 76.4% retracement at 0.7375.

Positioning is conflicted, with the falling trend line break and momentum studies standing in opposition to each other. With that in mind, opting to remain on the sidelines seems most prudent until a better-defined trading opportunity presents itself.

Need help building confidence in your NZD/USD strategy? See our guide here!

NZD/USD Technical Analysis: False Breakout Below 0.73 Figure?