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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
Low
High
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
Breaking news

NZ FinMin says RBNZ Required to Consider Impact of Housing for Monetary Policy, NZD Soars

Real Time News
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: France 40: 0.21% Germany 30: 0.20% Wall Street: 0.00% US 500: -0.01% FTSE 100: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/vQypZV7j1L
  • NZD extending gains against the Dollar $NZD $USD https://t.co/T6NsjMXiN9
  • New Zealand government changes RBNZ remit to take account of housing market in decisions. Kiwi extending gains $NZD $NZDUSD
  • This is an update to an article published on February 1, looking at CAD potential against the US Dollar (USD/CAD), the Euro (EUR/CAD) and the Japanese Yen (JPY). Get your $USDCAD market update from @JStanleyFX here:https://t.co/erp4Qddlvm https://t.co/pJ5zJ1cSWz
  • #Gold Price Outlook: Gold Recovery First Test at Trend Resistance - $XAUUSD Levels - https://t.co/VHAsch23R0 https://t.co/9nnskcEVxQ
  • The US 10Y yield sits at 1.39, slightly off its intraday high of 1.43 https://t.co/a7mvDvlBiG
  • Bitcoin trying to turn it green on the. Yellen thinking 'time to sweep the leg'
  • commodity currencies have been putting in big moves of late. $USDCAD fresh two-year-lows, nearing 1.2500. But $CADJPY has been in a pronounced breakout for a little longer, and $EURCAD has recently joined the party. https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/02/24/Canadian-Dollar-Price-Forecast-Loonie-USD-CAD-USDCAD-CAD-JPY-CADJPY-EUR-CAD-EURCAD.html https://t.co/GQeIBjPmpH https://t.co/21VFUWPXv7
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Silver: 0.60% Oil - US Crude: -0.05% Gold: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/OVvBvd24Qj
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.59%, while traders in Wall Street are at opposite extremes with 75.75%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/gM9tZwFhj3
NZD/USD Technical Analysis: Topping Pattern Points Below 0.66

NZD/USD Technical Analysis: Topping Pattern Points Below 0.66

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Strategy: 0.6869

  • New Zealand Dollar makes good on signs of topping below 0.70 mark
  • Drop below 0.66 mark hinted by Head and Shoulders pattern structure
  • Short position in play, attractive risk/reward needed to add exposure

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

The New Zealand Dollar turned lower against its US counterpart as expected after putting in a bearish Evening Star candlestick pattern and breaking counter-trend support. The top now looks to have taken the shape of a Head and Shoulders pattern, implying a measured move below the 0.66 figure ahead.

Near-term support is in the 0.6699-0.6713 area, with a break below that confirmed on a daily closing basis opening the door for a test of the 0.6592-0.6619 zone. Alternatively, a move back above former support in the 0.6754-78 region paves the way for a test of falling trend line resistance, now at 0.6842.

New Zealand Dollar vs US Dollar chart - daily

A short NZD/USD position was activated at 0.6869. The trade will remain in play from here, aiming to capitalize on bearish development as the dominant down trend regains momentum. Opportunities to add to exposure will be evaluated if a compelling risk/reward setup to do so presents itself.

NZD/USD TRADING RESOURCES:

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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.

DISCLOSURES