FOREX Technical Analysis: NZD/USD Trades to 2 Month Lows

By Jamie Saettele, CMT | DailyFX – Thu, Nov 15, 2012 9:19 AM SGT

Companies:

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.80670.00

Daily Bars

FOREX_Technical_Analysis_NZDUSD_Trades_to_2_Month_Lows_body_nzdusd.png, FOREX Technical Analysis: NZD/USD Trades to 2 Month Lows

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The NZDUSD traded to its lowest level since mid-September and more importantly traded below the October low. The drop below the 10/23 low confirms a secondary top (wave B or 2) at 8309. Trendline supports have been cleanly broken as well.

FOREXTrading Strategy: Focus is lower towards at least the 100% extension at 8054 although the 161.8% is of particular interest due to its proximity to the September low near 7900. Risk on shorts is moved down to 8205 and resistance is now 8123/56.

LEVELS: 7914 8011 8054 8123 8156 8202

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

 
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
Save List to Portfolio »
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    NamePriceChange% Chg
    2.4038-0.00-0.15%
    SGDMYR=X
    More Currencies »
  • Commodities
    NamePriceChange% Chg
    1,358.30-28.60-2.06%
    GCM13.CMX
    22.20-0.45-2.00%
    SIN13.CMX
    97.49-3.30-3.28%
    ^XAU
    3.320.03+0.77%
    HGN13.CMX
    96.020.86+0.90%
    CLM13.NYM
    More Commodities »
  • Bonds
    TreasuryYield (%)Yield Change
    0.830.06
    ^FVX
    1.950.08
    ^TNX
    3.160.08
    ^TYX
    More Bonds »

MARKET MOVERS

  • Most Actives
    NamePriceChange% Chg
    0.196-0.00-0.51%
    I26.SI
    0.191-0.44-69.68%
    M41.SI
    0.1080.00+2.86%
    D4N.SI
    0.4950.03+5.32%
    GJ8.SI
    0.670.00+0.75%
    Y92.SI
    More Most Actives »
  • % Gainers
    NamePriceChange% Chg
    0.1450.03+26.09%
    G5X.SI
    0.670.07+12.61%
    5VJ.SI
    0.3850.03+10.00%
    594.SI
    1.5230.11+8.01%
    O9D.SI
    0.280.02+7.69%
    5OS.SI
    More % Gainers »
  • % Losers
    NamePriceChange% Chg
    0.191-0.44-69.68%
    M41.SI
    0.24-0.06-20.00%
    E94.SI
    0.117-0.01-10.00%
    D08.SI
    0.101-0.01-8.18%
    T16.SI
    0.715-0.06-7.14%
    L5I.SI
    More % Losers »