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

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.6740+0.0011

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
    1.3752-0.003-0.22%
    USDSGD=X
    1.5362-0.0015-0.10%
    EURSGD=X
    2.0134-0.0128-0.63%
    GBPSGD=X
    79.8586-0.1036-0.13%
    SGDJPY=X
    5.6470+0.012+0.21%
    SGDHKD=X
    2.9590-0.0104-0.35%
    SGDMYR=X
    9,847.9814-32.6562-0.33%
    SGDIDR=X
    4.7641+0.0059+0.12%
    SGDCNY=X
    0.9919+0.0003+0.03%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,220.60-3.20-0.26%
    GCM16.CMX
    16.36+0.10+0.64%
    SIN16.CMX
    82.16-0.07-0.08%
    ^XAU
    2.100.00+0.12%
    HGN16.CMX
    49.560.000.00%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.37-0.04
    ^FVX
    1.84-0.03
    ^TNX
    2.64-0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.310.00+1.64%
    N21.SI
    0.112-0.002-1.75%
    40E.SI
    3.86+0.04+1.05%
    Z74.SI
    1.775-0.010-0.56%
    MC0.SI
    0.375+0.005+1.35%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.23+0.03+17.35%
    BER.SI
    0.12+0.02+14.29%
    T42.SI
    0.35+0.03+11.11%
    L5I.SI
    0.26+0.02+10.64%
    BKW.SI
    0.152+0.012+8.57%
    5OT.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.37-0.13-26.00%
    BKK.SI
    0.525-0.140-21.05%
    AWE.SI
    0.40-0.08-16.67%
    BLR.SI
    0.15-0.03-16.20%
    5PF.SI
    0.28-0.04-12.50%
    BOU.SI