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
EUR/USD
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
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
Bullish
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
Bitcoin
Mixed
More View more
Real Time News
  • - #USDollar, Japanese #Yen may rise if corporate earnings spook markets - Weaker earnings from industrial giants may highlight toll of #tradewar - China WTO complaint against US could undermine cross-pacific talks https://www.dailyfx.com/forex/market_alert/2019/10/23/US-Dollar-JPY-May-Rise-if-Q3-Earnings-Show-Wounds-from-Trade-War.html
  • LIVE NOW: In this session, Currency Analyst @ddubrovskyFX discusses traders' positioning as a key element of market analysis to determine the prevailing and future price trends. https://www.dailyfx.com/webinars/998956395?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • About to start in a few minutes, will be covering positioning in the British Pound amid the latest #Brexit developments and more! Join below $GBPUSD https://t.co/FQqd59VbCL
  • The $GBP swung wildly following a series of votes that are critical in the #Brexit proceedings. Get your market update from @PeterHanksFX here:https://t.co/kEb6EeUdMu https://t.co/xceWoNxSXg
  • LIVE IN 30 MIN: In this session, Currency Analyst @ddubrovskyFX discusses traders' positioning as a key element of market analysis to determine the prevailing and future price trends. https://www.dailyfx.com/webinars/998956395?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • (Asia Pacific AM Briefing) GBP/USD Rate Sinks as Brexit Limbo Opens the Door to Yen Strength $GBPUSD #Brexit #Yen - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/10/22/GBPUSD-Rate-Sinks-as-Brexit-Limbo-Opens-the-Door-to-Yen-Strength.html?CHID=9&QPID=917702 https://t.co/oyeoDOXO1I
  • Sneak-peak of the latest US Dollar Price Volatility Report, which brings you up to speed on everything $GBPUSD and #Brexit. Implied volatility and trading range table for major USD pairs included as always. Link to Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2019/10/22/us-dollar-price-volatility-report-gbp-to-usd-in-brexit-limbo.html https://t.co/dOG8Hkg9fe
  • #EURCHF pivot points (daily) – S3: 1.0946, S2: 1.0977, S1: 1.0994, R1: 1.1026, R2: 1.1041, R3: 1.1073- https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Join @ddubrovskyFX 's #webinar at 8:00 PM ET/12:00 AM GMT to find out what information you can gain from knowing what other traders are buying or selling. Register here: https://t.co/Bb3CTCTm44 https://t.co/FnPAjzSW1H
  • For those who want to know who made the cut in this year's episode of...how doomed are we? #EmergingMarkets https://t.co/f7S5IfSEqP
NZD/USD Technical Analysis: Long-Term Price Trend Breaking Down?

NZD/USD Technical Analysis: Long-Term Price Trend Breaking Down?

2019-08-13 03:30:00
Ilya Spivak, Sr. Currency Strategist
Share:

NZD/USD Technical ANALYSIS: BEARISH

  • NZ Dollar breaches 2019 support shelf, challenging 2018 bottom
  • Long-term positioning hints 19-year uptrend might be fracturing
  • Neutralizing selling pressure probably needs a return above 0.68

Get help building confidence in your NZD/USD strategy with our free trading guide!

The New Zealand Dollar extended lower after breaking the bounds of the upswing from mid-June, pushing below the support shelf in the 0.6482-96 area to challenge the October 2018 low at 0.6425. A daily close underneath that exposes the January 2016 bottom at 0.6348 next.

Alternatively, a move back above 0.6496 – now recast as resistance – opens the door for another test of the 0.6559-91 congestion region. The overall trend bias looks decidedly bearish absent a breach of resistance guiding the broader downtrend since July 2017, now within a hair of the 0.68 figure.

NZD/USD Technical Analysis: Long-Term Price Trend Breaking Down?

NZD/USD daily chart created using TradingView

Zooming out to the monthly chart, a tectonic breakout looks to be in the offing. Prices are on the verge of breaking support defining an uptrend lasting nearly two decades (in fact, it has already given way on a weekly closing basis). If follow-through is found, a move toward the 0.60 figure may be next.

New Zealand Dollar vs US Dollar price chart - monthly

NZD/USD monthly chart created using TradingView

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

News & Analysis at your fingertips.