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

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.6705-0.0013

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.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
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.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3633-0.0002-0.01%
    USDSGD=X
    1.5092+0.0009+0.06%
    EURSGD=X
    2.1278-0.0011-0.05%
    GBPSGD=X
    90.6470-0.009-0.01%
    SGDJPY=X
    5.6852+0.00020.00%
    SGDHKD=X
    2.7924+0.0015+0.05%
    SGDMYR=X
    9,865.2969+15.2793+0.16%
    SGDIDR=X
    4.5526-0.0017-0.04%
    SGDCNY=X
    1.0009-0.0005-0.05%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,095.10-1.10-0.10%
    GCQ15.CMX
    14.66+0.02+0.12%
    SIU15.CMX
    47.47+0.81+1.73%
    ^XAU
    2.41+0.01+0.44%
    HGU15.CMX
    47.77-0.21-0.44%
    CLU15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.59+0.01
    ^FVX
    2.25+0.02
    ^TNX
    2.96+0.02
    ^TYX

MARKET MOVERS