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.

Free Trading Guides
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
Oil - US Crude
More View more
Real Time News
  • RT @FactSet: $SPX is reporting revenue growth of 2.9% for Q4, led by the Health Care (11%), Utilities (9%), and Communication Services (9%)…
  • The AUD has been hit by the risk-appetite pullback occasioned by the spread of Wuhan-strain coronavirus. This week may see domestic focus return, if headlines allow, with key inflation data due. Get your $AUDUSD market update from @DavidCottleFX here: https://t.co/UIpwno0pSq https://t.co/kib4d1mA0q
  • RT @anilvohra69: USD inverted (red) is correlated to Excess Reserves (blue) and Reserve Balances (green). 1/2 https://t.co/bbO1pPWY4F
  • RT @FactSet: $SPX is reporting a decline in earnings of -1.9% for Q4, led by the Energy (-42%), Consumer Discretionary (-14%), and Material…
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/6iMyDFqnqe
  • 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/2mjzvYvgSn
  • Previewing the Texas Rangers new home! https://t.co/WITZGSQPlc
  • Thanks for having me on @MartinSEssex https://t.co/fg8uOe16wr
  • The MACD is often used with its default setting when entering trades. However, this versatile indicator can be customized to assist traders in exiting trades too. Learn how to better incorporate the MACD into your trading strategy here: https://t.co/HnY7gzsI2q https://t.co/5F1DSvAXyy
  • What are some factors affecting $GBP as we head into 2020, quarter one? Download your Sterling fundamental forecast with @nickcawley1 here to find out: https://t.co/YfDSYSATK9 https://t.co/ANFLIuDY4J
NZDUSD Technical Analysis: Six-Week Uptrend Under Fire

NZDUSD Technical Analysis: Six-Week Uptrend Under Fire

2019-07-29 00:30:00
Ilya Spivak, Sr. Currency Strategist


  • NZ Dollar back on the defensive as sellers challenge 6-week support
  • Risk/reward setup might keep breakout at bay pending key event risk
  • Much-anticipated FOMC interest rate policy decision looming large

See our free trading guide to help build confidence in your NZDUSD trading strategy!

The New Zealand Dollar recoiled downward after testing resistance guiding it lower against its US counterpart since late July 2017. Prices are now testing support defining the upswing from mid-June. A daily close below that would paint the rise as corrective and argue for resumption of the longer-term decline.

In this scenario, initial support lines up in the 0.6559-91 congestion area. A further push below that sets the stage to challenge the base of the six-week rally in the 0.6482-96 zone. On the topside, a dense resistance bloc running up through 0.6727 is followed by the July 19 swing high at 0.6791.

New Zealand Dollar vs US Dollar price chart - daily

An actionable trade setup seems to be absent at present. NZDUSD are sitting squarely top near-term support, which might dissuade a fresh crop of sellers from joining the fray on risk/reward grounds. On the other hand, making the case for a lasting move higher seems to demand at least a discernible reversal signal.

With that in mind, a period of digestion near current levels may be in the cards until an external catalyst forces a decisive breakout. The coming week is loaded with heavy duty event risk to provide just such a nudge. A much-anticipated FOMC monetary policy announcement may prove to be most decisive.


--- 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.


News & Analysis at your fingertips.