FOREX Technical Analysis: NZD/USD Responds to 8200 Resistance

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.7225-0.0088

Daily Bars

FOREX_Technical_Analysis_NZDUSD_Responds_to_8200_Resistance_body_nzdusd.png, FOREX Technical Analysis: NZD/USD Responds to 8200 Resistance

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: Unlike the AUD/USD, the NZD/USD decline from last week’s top unfolded in a clean impulse (5 waves). The rally from the low should unfold correctively and top before 8309. 8230/37 (former support and 61.8% retracement) is a level that may produce the top.

FOREXTrading Strategy: “A bearish bias is warranted although a bounce into 8230 or sideways trading for several days can’t be ruled out. 8010/55 is an area of interest.” The NZD/USD responded at 8200 today but keep tabs on 8230/37, which is former support and the 61.8% retracement of the decline from the top.

LEVELS: 8011 8054 8115 8200 8230 8260

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 MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.136-0.001-0.73%
    N21.SI
    0.720.00-0.69%
    BS6.SI
    0.143+0.004+2.88%
    5DM.SI
    0.960.000.00%
    Y92.SI
    0.32+0.01+3.23%
    5OT.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.275+0.055+25.00%
    S46.SI
    0.375+0.045+13.64%
    AZT.SI
    0.27+0.03+10.20%
    5EC.SI
    0.33+0.02+6.45%
    1A1.SI
    1.0850.0000.00%
    AYN.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.235-0.055-18.97%
    PA3.SI
    0.136-0.029-17.58%
    5NF.SI
    0.17-0.03-15.00%
    AYD.SI
    0.09-0.01-14.29%
    BQI.SI
    0.35-0.05-11.39%
    BQF.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3596+0.0042+0.31%
    USDSGD=X
    1.5273+0.0082+0.54%
    EURSGD=X
    1.7631-0.0084-0.47%
    GBPSGD=X
    74.2870-0.03-0.04%
    SGDJPY=X
    5.7024-0.0176-0.31%
    SGDHKD=X
    3.0254-0.0071-0.23%
    SGDMYR=X
    9,619.2949-67.6982-0.70%
    SGDIDR=X
    4.9043-0.0111-0.23%
    SGDCNY=X
    1.0351-0.0006-0.06%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,341.90-2.80-0.21%
    GCZ16.CMX
    19.78-0.32-1.59%
    SIZ16.CMX
    95.76-3.02-3.05%
    ^XAU
    2.20+0.01+0.25%
    HGZ16.CMX
    43.85+0.41+0.94%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.15-0.02
    ^FVX
    1.62-0.02
    ^TNX
    2.34-0.01
    ^TYX