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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Point 3 is not talked about enough. The bureaucratic - dare I say, Leviathan - in most universities is resulting in tuition prices skyrocketing without adding clear value to the students.
  • Think #amzn will gap higher on Monday after Black Friday and the giant move to online shopping?
  • The exponential moving average (EMA) is a derivative of the simple moving average (SMA) indicator. Compared to the SMA, the EMA weighs recent price changes more heavily than later changes in price. Learn how to incorporate the EMA into your strategy here:
  • Traders in the Euro have a big decision to make this weekend: if EUR/USD hits 1.20, will it continue to advance, consolidate or fall back? Get your $EURUSD market update from @MartinSEssex here:
  • The bullish engulfing candle is one of the forex market's most clear-cut price action signals for reversals and continuation. Learn more about this price action trading signal here:
  • The bull flag pattern is a great pattern to add to a forex trader's technical arsenal. Explosive moves are often associated with the bull flag. Learn more about the bull flag pattern here:
  • Defensive stocks have proven critically important when navigating stock market volatility. Find out what are the most defensive stocks here:
  • Dollar Index has broken major uptrend support and risks accelerated losses into the December open. Get your $USD technical analysis from @MBForex here:
  • The MACD is an indicator that uses exponential moving averages (EMA) to determine trend strength along with entry points based on crossovers. Find out how you can use the MACD as a buy/sell signal here:
  • Support and resistance are the cornerstone of technical analysis, making it the foundation that you build your knowledge on. Build a stronger foundation here:
NZD/USD Technical Analysis: NZ Dollar Aims to Extend Down Move

NZD/USD Technical Analysis: NZ Dollar Aims to Extend Down Move

2018-03-29 00:30:00
Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Strategy: SHORT AT 0.7320

  • NZ Dollar upswing rejected at six-week trend line resistance
  • Overall trend bias defined by downward-sloping price channel
  • Sellers taking aim at resistance below the 0.72 figure anew

The New Zealand Dollar recoiled from trend resistance capping forays to the upside for six weeks, hinting the next leg of the down move has begun. Overall positioning continues to be defined by a choppy channel formed by a series lower highs and lows, making for a broadly bearish bias.

Near-term support is at 0.7140, the 38.2% Fibonacci expansion. A daily close below that opens the door for a challenge of the 50% level at 0.7048. Alternatively, push up and through the trend line – now at 0.7292 – paves the way for a retest of 0.7355 (March 13 high, channel top).

NZD/USD Technical Analysis: NZ Dollar Aims to Extend Down Move

Half of the short NZD/USD tradetriggered at 0.7320 remains in play after partial profit was booked upon meeting the position’s initial objective, looking to capture follow-on weakness. A stop-loss will be activated on a discretionary basis if the boundaries of the downtrend appear to have been breached.


--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, use the Comments section below or @IlyaSpivak on Twitter

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

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