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
Bearish
GBP/USD
Bearish
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
USD/JPY
Mixed
Gold
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
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Notice

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • Part of trading is losing, that’s just a fact that everyone must accept straight away, How can #FOMO create hurdles in the process? Find out from @PaulRobinsonFX here: https://t.co/MwChGXI42z https://t.co/slj8Xr0dxH
  • #USDollar May Rise if US #GDP Data, #TradeWar Risks Spook Markets https://www.dailyfx.com/forex/fundamental/forecast/weekly/usd/2019/09/21/US-Dollar-May-Rise-if-US-GDP-Data-Trade-War-Risks-Spook-Markets.html
  • Asia #FX markets will be closely watching for developments in the ongoing China-led RCEP trade negotiations against the backdrop of slower global growth and rising protectionism. Get your market update from @ZabelinDimitri here: https://t.co/HZ8Loqj3Ey https://t.co/g332JcY549
  • What are trading journals? How can you create one and reduce your #FOMOintrading? Find out: https://t.co/0akgWbyJEw https://t.co/Xyy7rxZHip
  • 💷 $GBP British Pound Weekly Technical Outlook My latest take on Sterling price action as #Brexit risk comes back into scope. Commentary on the charts and implied volatility table included. More via @DailyFX ➡️ https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/09/21/gbp-to-usd-price-analysis-british-pound-eyes-rise-in-brexit-risk.html https://t.co/Hd6LAurfqG
  • The Singapore Dollar is driven by the Monetary Authority of Singapore, which manages exchange rate instead of short-term interest rates. Learn more on the $SGD and how to trade it from @ddubrovskyFX here: https://t.co/eWLM9XZs5Y https://t.co/SCHhCQhlFV
  • What are the common trading myths which can create #FOMOintrading? Find out: https://t.co/sDbOusCpzg
  • Walk through the new and improved IG Client Sentiment Data with @PeterHanksFX here: https://t.co/FTm5nXIAmq
  • Lessons from Bretton Woods are forgotten, the US-China #tradewar represents a true existential threat to the post-World War II international trade order, and in turn, the globalized economy that has grown out of the ashes of history. More from @CVecchioFX :https://t.co/paaBxX6Xt0 https://t.co/Lk229DNh6n
  • Catch up with @JStanleyFX as he walks through some FX price action setups post-FOMC. Get your recap here: https://t.co/MD2PB33t0L
NZD/USD Technical Analysis: Three-Year Low Under Pressure

NZD/USD Technical Analysis: Three-Year Low Under Pressure

2019-08-26 00:30:00
Ilya Spivak, Sr. Currency Strategist
Share:

NZD/USD Technical ANALYSIS: BEARISH

  • New Zealand Dollar testing three-year lows against US counterpart
  • Break of support may set the stage for weakness into the 0.62 figure
  • NZD/USD on the verge of breaking near-two-decade trend support

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

The New Zealand Dollar sank to challenge the January 2016 low at 0.6348 against its US counterpart after clearing the October 2018 bottom at 0.6425, as expected. A further downward push sees the next major layer of support marked by four-year lows in the 0.6197-0.6245 area.

Alternatively, a rebound back above 0.6425 – now recast as resistance – sets the stage for a retest of the recently broken support shelf in the 0.6482-96 zone. Invalidating the overall bearish bias would require far steeper gains however: dominant trend resistance now hovers just below 0.68.

NZD/USD Technical Analysis: Three-Year Low Under Pressure

NZD/USD daily chart created using TradingView

Zooming out to the monthly chart, the latest downturn brings prices closer to confirming a break of support defining the NZD/USD uptrend for nearly two decades. Finishing August underneath it – a prospect now just a week away – would mark a major regime change and expose the 0.5914-0.6197 region.

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

provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.