FOREX Technical Analysis: NZD/USD Drop Would Present Bullish Opportunity

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.6713-0.0005

Daily Bars

FOREX_Technical_Analysis_NZDUSD_Drop_Would_Present_Bullish_Opportunity_body_nzdusd.png, FOREX Technical Analysis: NZD/USD Drop Would Present Bullish Opportunity

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The NZDUSD has headed straight up since 8170. Given the reaction at channel resistance Thursday and Friday’s inside day, there is the possibility that the advance from 8052 composes wave B of a triangle or flat that began on 9/28. That scenario is not viewed as probable as long as price is above 8170 however. A Fibonacci confluence and August 2011 high intersects with a channel at the end of December

FOREXTrading Strategy: Weakness to or below 8300 would present an opportunity to buy against 8170 for a move towards 8550 by the end of the year.

LEVELS: 8237 8267 8308 8355 8400 8472

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3629-0.0006-0.04%
    USDSGD=X
    1.5103+0.002+0.13%
    EURSGD=X
    2.1282-0.0006-0.03%
    GBPSGD=X
    90.4366-0.2195-0.24%
    SGDJPY=X
    5.6869+0.0019+0.03%
    SGDHKD=X
    2.7910+0.00010.00%
    SGDMYR=X
    9,861.8135+11.7959+0.12%
    SGDIDR=X
    4.5512-0.0031-0.07%
    SGDCNY=X
    0.9997-0.0017-0.17%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,096.20-0.10-0.01%
    GCQ15.CMX
    14.66+0.02+0.16%
    SIU15.CMX
    47.47+0.81+1.73%
    ^XAU
    2.42+0.02+0.92%
    HGU15.CMX
    47.91-0.07-0.15%
    CLU15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.59+0.01
    ^FVX
    2.25+0.02
    ^TNX
    2.96+0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.138-0.003-2.13%
    5DN.SI
    0.5950.0000.00%
    N21.SI
    0.310.00-1.59%
    5WA.SI
    0.123+0.001+0.82%
    5I0.SI
    0.340.000.00%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.18+0.02+11.80%
    UV1.SI
    1.10+0.10+10.00%
    AXL.SI
    0.38+0.03+8.57%
    42E.SI
    0.55+0.05+8.91%
    P19.SI
    0.305+0.015+5.17%
    42D.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.24-0.04-14.29%
    AWS.SI
    0.092-0.013-12.38%
    O05.SI
    0.315-0.015-4.55%
    Y35.SI
    0.38-0.03-7.32%
    A04.SI
    0.48-0.03-6.80%
    E8Z.SI