FOREX Technical Analysis: NZD/USD Trades Through Early Month High

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.7474+0.0017

Daily Bars

FOREX_Technical_Analysis_NZDUSD_Trades_Through_Early_Month_High_body_nzdusd.png, FOREX Technical Analysis: NZD/USD Trades Through Early Month High

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: Bigger picture, the NZDUSD false break higher in early December and subsequent impulsive decline has me intrigued in the short side to begin the year. I wrote yesterday that “a corrective advance may be underway from 8155, in which case a final foray into 8400 wouldn’t be out of the question.” Price has entered the 8400 region so we should have a better idea by the end of the week whether or not the December high was important or not.

FOREXTrading Strategy: Bigger picture shorts are favored against 8475.

LEVELS: 8285 8316 8350 8409 8460 8476

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3597-0.0035-0.26%
    USDSGD=X
    1.4729+0.005+0.34%
    EURSGD=X
    2.0156-0.0056-0.28%
    GBPSGD=X
    87.9325+0.1207+0.14%
    SGDJPY=X
    5.7014+0.0144+0.25%
    SGDHKD=X
    2.6979+0.0046+0.17%
    SGDMYR=X
    9,567.2354+57.9854+0.61%
    SGDIDR=X
    4.5570+0.0102+0.22%
    SGDCNY=X
    1.0298-0.0065-0.63%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,201.60-6.60-0.55%
    GCM15.CMX
    16.82-0.24-1.43%
    SIK15.CMX
    68.90+3.40+5.19%
    ^XAU
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    HGK15.CMX
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    CLK15.NYM
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    1.33-0.05
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    1.87-0.07
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    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.141+0.010+7.63%
    E13.SI
    0.2850.0000.00%
    5WA.SI
    0.26-0.02-5.45%
    41H.SI
    0.20+0.03+16.28%
    I12.SI
    0.345+0.010+2.99%
    J7X.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.20+0.03+16.28%
    I12.SI
    0.139+0.017+13.93%
    5TJ.SI
    0.123+0.012+10.81%
    5MM.SI
    0.23+0.02+9.52%
    M9F.SI
    0.123+0.010+8.85%
    5I1.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.142-0.048-25.26%
    5RC.SI
    0.235-0.055-18.97%
    5TI.SI
    0.197-0.033-14.35%
    5TF.SI
    0.14-0.02-10.83%
    583.SI
    0.315-0.035-10.00%
    K29.SI