FOREX Technical Analysis: NZD/USD 2012 High Within Earshot

By Jamie Saettele, CMT | DailyFX – Wed, Dec 12, 2012 10:20 AM SGT

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RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.81210.01

Daily Bars

FOREX_Technical_Analysis_NZDUSD_2012_High_Within_Earshot_body_nzdusd.png, FOREX Technical Analysis: NZD/USD 2012 High Within Earshot

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The NZDUSD closed at its highest level since March 1st and is nearing the 2012 high, made on 2/29 at 8471. Focus throughout December remains higher towards the extremely well-defined technical confluence that surrounds 8550. 8308/40 is support to keep in mind for buying a dip.

FOREXTrading Strategy: I want to be long but not at this level as risk is too great. A drop into the mentioned 8300/40 would pique my interest although a conservative scale in approach is warranted given the rather large stop (8170).

LEVELS: 8317 8340 8377 8420 8472 8550

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Market Data

  • Currencies
    NamePriceChange% Chg
    1.2543-0.00-0.23%
    USDSGD=X
    1.6113-0.00-0.24%
    EURSGD=X
    1.9063-0.00-0.19%
    GBPSGD=X
    81.84120.13+0.16%
    SGDJPY=X
    6.18870.02+0.40%
    SGDHKD=X
    2.4064-0.00-0.04%
    SGDMYR=X
    7,772.9502-21.45-0.28%
    SGDIDR=X
    4.8970-0.02-0.45%
    SGDCNY=X
    1.22710.00+0.04%
    AUDSGD=X
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    1,342.50-22.20-1.63%
    GCM13.CMX
    21.27-1.08-4.82%
    SIN13.CMX
    97.49-3.30-3.28%
    ^XAU
    3.30-0.03-0.77%
    HGN13.CMX
    95.99-0.03-0.03%
    CLM13.NYM
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    TreasuryYield (%)Yield Change
    0.830.06
    ^FVX
    1.950.08
    ^TNX
    3.160.08
    ^TYX
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MARKET MOVERS

  • Most Actives
    NamePriceChange% Chg
    0.1110.01+8.82%
    5RJ.SI
    0.5750.00+0.00%
    E5H.SI
    0.2750.00+0.00%
    N4E.SI
    0.4450.01+2.30%
    E3B.SI
    0.3250.00+1.56%
    5IG.SI
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    NamePriceChange% Chg
    0.3350.05+15.52%
    M9F.SI
    0.290.03+9.43%
    B9S.SI
    0.1110.01+8.82%
    5RJ.SI
    0.6450.04+7.50%
    EH5.SI
    0.1190.01+7.21%
    B64.SI
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    NamePriceChange% Chg
    0.26-0.02-7.14%
    S49.SI
    0.153-0.01-6.13%
    M15.SI
    0.144-0.01-5.26%
    D38.SI
    0.365-0.02-5.19%
    594.SI
    0.101-0.00-4.72%
    S13.SI
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