Skip to Content
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
NZD/USD Technical Analysis: Sellers Set to Challenge 0.65 Figure?

NZD/USD Technical Analysis: Sellers Set to Challenge 0.65 Figure?

Ilya Spivak, Head Strategist, APAC

NZD/USD Technical Strategy: BEARISH

  • New Zealand Dollar confirms break below long-held range floor
  • Sellers now seem poised to push for a challenge of the 0.65 figure
  • Invalidating bearish cues likely needs foothold in the upper 0.67s

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

The New Zealand Dollar managed to secure a break below support in the 0.6699-0.6727 area, confirming the breach on a daily closing basis. Failing in this regard on an earlier foray lower in the wake of disappointing CPI data and then opting to follow through on a second attempt seems to hint at greater potential for further downside progress. The break appears to be a bit more considered, as it were.

From here, the next layer of support appears in the 0.6591-0.6619 zone, with a further move below that opening the door for a test of the 0.65 figure. A reversal back above 0.6727 that is likewise secured on a closing basis would go a long way toward invalidating the immediate downside bias but taking out falling trend line resistance set from the March 21 high (now at 0.6750) seems necessary to re-confirm.

Nearer term, forays above the 0.67 figure may be relatively attractive to a significant crop of sellers from a risk/reward perspective, making lasting progress above that level challenging. A steady stream of macro event risk with potential to encourage market-wide risk aversion might emerge as another factor capping the upside for the sentiment-linked currency.

New Zealand Dollar vs US Dollar chart - daily


--- 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.