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

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.7703+0.0041

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
    1.3500+0.0015+0.11%
    USDSGD=X
    1.4443-0.004-0.28%
    EURSGD=X
    2.0096-0.0002-0.01%
    GBPSGD=X
    88.4086-0.0156-0.02%
    SGDJPY=X
    5.7407-0.0066-0.11%
    SGDHKD=X
    2.6925+0.0019+0.07%
    SGDMYR=X
    9,605.5771-32.5498-0.34%
    SGDIDR=X
    4.5893-0.0082-0.18%
    SGDCNY=X
    1.0445+0.0025+0.24%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,198.10+4.40+0.37%
    GCM15.CMX
    16.05+0.16+1.01%
    SIK15.CMX
    71.20+0.26+0.36%
    ^XAU
    2.72-0.01-0.53%
    HGK15.CMX
    57.68-0.20-0.35%
    CLM15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.32+0.03
    ^FVX
    1.90+0.05
    ^TNX
    2.57+0.07
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.23+0.01+4.55%
    5GB.SI
    0.2950.0000.00%
    5WA.SI
    0.87-0.01-1.69%
    N21.SI
    4.35-0.06-1.36%
    Z74.SI
    1.045+0.020+1.95%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.275+0.035+14.58%
    5TS.SI
    0.295+0.030+11.32%
    G10.SI
    0.36+0.04+10.77%
    K29.SI
    0.535+0.050+10.31%
    P9D.SI
    0.114+0.008+7.55%
    J8O.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.20-0.05-20.00%
    5WD.SI
    0.11-0.02-15.38%
    5GF.SI
    0.225-0.030-11.76%
    41H.SI
    0.181-0.017-8.59%
    40N.SI
    0.72-0.06-7.69%
    AUE.SI