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: 19-Month Resistance Under Fire
S10.6615 M R30.6897 S
S20.6552 M R20.6757 W
S30.6402 S R10.6678 M
Trend
down
Volatility
82%

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NZD/USD Technical Analysis: 19-Month Resistance Under Fire

The New Zealand Dollar finds itself at trend-setting resistance that has capped gains versus the currency’s US counterpart since early July 2014.
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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


Forex Economic Calendar


USD Baker Hughes U.S. Rig Count
m
A: 571
F: 
P: 619

USD Consumer Credit
m
A: $21.267b
F: $16.000b
P: $14.020b

USD Wholesale Inventories
m
A: 
F: -0.2%
P: -0.3%

NZD NZ Card Spending (MoM)
m
A: 
F: 
P: 0.1%

NZD REINZ House Sales (YoY)
m
A: 
F: 
P: 3.5%

USD MBA Mortgage Applications
m
A: 
F: 
P: 
A: Actual   F: Forecast    P: Previous