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. See our updated Privacy Policy here.



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
More View more
Real Time News
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here:
  • RT @mkraju: Manchin signaling he’s open to $1.75T for social safety net bill, per source briefed on matter, but it’s unclear where the pric…
  • Further your forex knowledge and gain insights from our expert analysts @JohnKicklighter and @JStanleyFX on $USD with our free Q4 market analysis guide, available for free today. #DailyFXGuides
  • RT @JournalistRoss: From CNN's @mkraju: The goal among Democratic leaders is to have a vote Wednesday or Thursday on the infrastructure pac…
  • *Reminder: Weekly Strategy Webinar tomorrow at 8:30am ET on @DailyFX !!
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Wow Liverpool...
  • With the $SPX, Bitcoin and Fed 2022 rate forecasts pushing record highs; the heavy economic docket for the coming week will make for some loaded trading potential. The events and markets I'm looking at ahead:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • Further your stock trading knowledge and gain informed market analyses from our expert analysts @HathornSabin and @JMcQueenFX on Indexes with our free Q4 guide, available today. #Dailyfxguides
NZD/USD Technical Analysis: Long-Term Uptrend Ready to Give Way?

NZD/USD Technical Analysis: Long-Term Uptrend Ready to Give Way?

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Strategy: SHORT AT 0.6680

  • New Zealand Dollar back to test August lows after 4-day selloff
  • Monthly chart reveals 18-year rising trend vulnerable to reversal
  • Holding short amid search for resolution at key inflection point

See our free trading guide to help build confidence in your NZD/USD trading strategy!

Four consecutive days of losses have brought the New Zealand Dollar down for another test of Augusts’ swing bottom against after the currency resumed the downtrend against its US counterpart, as expected.

A daily close below the 0.6545-60 area opens the door for a challenge of the 38.2% Fibonacci expansion at 0.6402. Alternatively, a reversal above support-turned-resistance in the 0.6688-0.6726 zone paves the way for a retest of the May 16 low at 0.6851.

NZD/USD Technical Analysis: Long-Term Uptrend Ready to Give Way?

The sense that prices are at a key inflection point is reinforced in longer-term positioning. The monthly chart reveals prices are starting to work their way through support that has guided the uptrend for nearly two decades. A break below this juncture may open the door for a substantially more pronounced decline over the coming months and years.

New Zealand Dollar vs US Dollar Chart - monthly

The short NZD/USD trade triggered at 0.6680 has now met its initial objective at 0.6560. Adding to exposure is unattractive from a risk/reward perspective as the pair tests chart support. On the other hand, booking out of the trade seems premature before a clearer resolution of the directional bias at this critical juncture. With that in mind, a wait-and-see approach appears to be most prudent.


--- Written by Ilya Spivak, Currency Strategist for

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

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