Never miss a story from Ilya Spivak

Subscribe to receive daily 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 DailyFX 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 your subscriptions by following the link in the footer of each email you will receive

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

NZD/USD Technical Strategy: BEARISH

  • NZ Dollardeclines for five consecutive days, stalls above 0.67 figure
  • Break of counter-trend support line hints bearish trend has resumed
  • January lows in focus if sellers can manage daily close below 0.6686

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

Signs of ebbing upside momentum preceded a turn lower for the New Zealand Dollar against its US namesake, as expected. The currency pair has now declined for five consecutive sessions, making for the longest losing streak in over three months.

New Zealand Dollar vs US Dollar - daily chart

A look at shorter-term positioning on the four-hour chart shows prices consolidating losses in the 0.6726-67 area. Still, seeing clear follow-through on the break of rising trend support guiding the upswing from lows from set at the beginning of the year suggests the longer-term down trend has resumed.

NZD/USD Technical Analysis: NZ Dollar Looks Likely to Fall Further

From here, a move below the 0.6726 opens the door for a test of the next layer of support in the0.6686-0.6713 area. A daily close below that sets the stage for a decline to revisit zone 0.6592-0.6619, where the last down leg started in early December out of steam.


--- Written by Ilya Spivak, Currency Strategist for

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