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
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
More View more
Real Time News
  • Heads Up:🇯🇵 BoJ Suzuki Speech due at 01:30 GMT (15min)
  • RT @FxWestwater: $AUDNZD Bounces but Incoming Death Cross May Keep Outlook Bearish Link: #AUD #NZD…
  • 🇦🇺 Balance of Trade (OCT) Actual: A$7.456B Expected: A$5.8B Previous: A$5.815B
  • 🇦🇺 Investment Lending for Homes (OCT) Actual: 0.3% Previous: 5.2%
  • 🇦🇺 Home Loans MoM (OCT) Actual: 0.8% Previous: 6.0%
  • 🇦🇺 Balance of Trade (OCT) Actual: A$7456M Expected: A$5.8B Previous: A$5.630B
  • 5 out of 9 Dow sectors closed in the green, with 73.3% of the index’s constituents ending higher. Energy (+2.77%), communication services (+2.36%) and industrials (+1.91%) leading, whereas information technology (-1.98%) and consumer discretionary (-1.69%) were lagging.
  • The price of #oil snaps the series of lower highs and lows carried over from the previous week as US crude output sits at its lowest level since 2018. Get your #crudeoil market update from @DavidJSong here:
  • Heads Up:🇦🇺 Investment Lending for Homes (OCT) due at 00:30 GMT (15min) Previous: 5.2%
  • Heads Up:🇦🇺 Home Loans MoM (OCT) due at 00:30 GMT (15min) Previous: 6.0%
NZD/USD Technical Analysis: Long-Term Uptrend Ready to Give Way?

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

2018-09-05 00:30:00
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.