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.

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
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Dow Jones Retreats Ahead of FOMC, Nikkei 225 and ASX 200 Open Lower https://www.dailyfx.com/forex/market_alert/2021/06/16/Dow-Jones-Retreats-Ahead-of-FOMC-Nikkei-225-and-ASX-200-Open-Lower.html https://t.co/2sjz9ZpHgH
  • 🇦🇺 Westpac Leading Index MoM (MAY) Actual: -0.06% Previous: 0.19% https://www.dailyfx.com/economic-calendar#2021-06-16
  • MSCI #EmergingMarkets Index (EEM), which is heavily weighed in Chinese stocks, has been struggling to breach the 54.97 - 55.34 inflection zone A hawkish #Fed (especially amid ebbing #PBOC liquidity measures), could risk weighing the index Breach under 20-day SMA exposes MAR low https://t.co/4WQED01FWV
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/Lt3Z0TODqu
  • Natural gas spot prices have been on the rise, recapturing a key trendline, following the EIA’s Short-Term Energy Outlook. Where can prices head from here? Find out from @FxWestwater here:https://t.co/yK48nZD1ag https://t.co/CPBSrdO485
  • Heads Up:🇦🇺 Westpac Leading Index MoM (MAY) due at 01:00 GMT (15min) Previous: 0.2% https://www.dailyfx.com/economic-calendar#2021-06-16
  • 🇯🇵 Balance of Trade (MAY) Actual: ¥-187.1B Expected: ¥-91.2B Previous: ¥253.1B https://www.dailyfx.com/economic-calendar#2021-06-15
  • 🇯🇵 Machinery Orders YoY (APR) Actual: 6.5% Expected: 8% Previous: -2% https://www.dailyfx.com/economic-calendar#2021-06-15
  • Heads Up:🇨🇭 US-Russia Meeting due at 00:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-16
  • Heads Up:🇯🇵 Balance of Trade (MAY) due at 23:50 GMT (15min) Expected: ¥-91.2B Previous: ¥255.3B https://www.dailyfx.com/economic-calendar#2021-06-15
NZD/USD Technical Analysis: Double Top Forming Below 0.70?

NZD/USD Technical Analysis: Double Top Forming Below 0.70?

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Strategy: NEUTRAL

  • Bearish Engulfing candlestick pattern hints Kiwi Dollar top is forming
  • Reversal confirmation needs break of trend support from January low
  • Breakdown would initially expose support region near the 0.67 figure

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

A New Zealand Dollar put in a Bearish Engulfing candlestick pattern on a test of resistance in the 0.6942-69 area, hinting that a move lower is ahead. A break below rising trend line support set from early January – now at 0.6842 – sets the stage for a decline to challenge the 0.6686-0.6713 zone.

Alternatively, a breach above resistance validated on a daily closing basis initially exposes the June 2018 swing top at 0.7060. This is followed by a more formidable upside barrier marking former range floor support in the 0.0.7174-88 region.

New Zealand Dollar vs US Dollar chart - daily

Confirmation of a bearish reversal – specifically, a clear breach of the near-term series of higher highs and lows – is still pending. That makes taking a short position at current levels appear to be premature. Opting for the sidelines appears to be most prudent until a better-defined opportunity 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