NZD/USD

The NZDUSD currency pair is often called 'The Kiwi', as the $1 coin of the currency depicts a kiwi bird. It is one of the 10 most-traded currencies in the world, and gained considerable appeal during the multi-decade commodity boom that took place around the globe. Kiwi appreciation had gotten so high that the Reserve Bank of New Zealand began intervention efforts in 2012, seeking to devalue New Zealand Dollar.


Support & Resistance

NZD/USD
NZD/USD Technical Analysis: Struggling at Key Trend Line
S10.6658 W R30.6812 M
S20.6596 S R20.6764 W
S30.6548 M R10.6717 S
Trend
neutral
Volatility
98%

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NZD/USD Technical Analysis: Struggling at Key Trend Line

The New Zealand Dollar continues to tread water below pivotal resistance defining the down trend against the currency’s US counterpart sinceearly July 2014.
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NZD/USD Continues to Press Major Resistance Level


NZD/USD Shorts Favored Sub-6759 - Range Break to Clear the Way


NZD/USD Consolidates Under Resistance Line


Aussie Dollar Gains, Yen Drops as Market Sentiment Recovers



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Analyst picks

Walker England   

Forex Trading Instructor

My Picks: NZD/USD Bullish Retracement
Expertise: Technical Analysis
Average Time Frame of Trades: 1 Day - 1 Week


Pivot Points

Candlestick

Symbol Trends Bias Time Frame Candlestick Formation Candle Bias
NZD/USD
weekly MORNING STAR

NZD/USD Candlestick Analysis: Struggling Below 0.77 Figure

Fundamental analysis, economic and market themes

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Talking Points:

  • NZD/USD Strategy: Flat
  • July 2013 Bottom Now Resistance
  • Upswing to Yield Short Trade Setup

The New Zealand Dollar is struggling to maintain upside momentum having launched a recovery following the formation of a bullish Morning Star candlestick pattern. Prices continue to grind against support-turned-resistance in the 0.7608-82 area, with a break above this threshold exposing the 38.2% Fibonacci retracement at 0.7801. Alternatively, a move back below the 14.6% Fib expansion at 0.7495 aims for the 23.6% level at 0.7344.

The dominant long-term NZD/USD trend looks to be favoring the downside. As such, we will treat any further gains as corrective and look to them as an opportunity to establish a short position at more attractive levels once the upswing is exhausted.

NZD/USD Candlestick Analysis: Struggling Below 0.77 Figure

Weekly Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com


Upcoming Events

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NZD Performance Services Index
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