FOREX Technical Analysis: NZD/USD Nearing December Low

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.7242-0.0072

Weekly Bars

eliottWaves_nzd-usd_body_nzdusd.png, FOREX Technical Analysis: NZD/USD Nearing December Low

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: I wrote last week that “at the current juncture, weakness probably proves corrective (4th wave within rally from 11/16 low). Support is 8355/75. While I still expect weakness to prove corrective, today’s NZDJPY analysis suggests that we keep an open mind.” Weakness is proving impulsive, raising the possibility that a significant high is in place. Look towards 8170 near term.

FOREXTrading Strategy: Stops on shorts should be moved down to 8350.

LEVELS: 8052 8125 8170 8251 8300 8345

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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
    1.3581+0.0027+0.20%
    USDSGD=X
    1.5236+0.0045+0.30%
    EURSGD=X
    1.7572-0.0143-0.81%
    GBPSGD=X
    74.1220-0.195-0.26%
    SGDJPY=X
    5.7055-0.0145-0.25%
    SGDHKD=X
    3.0268-0.0057-0.19%
    SGDMYR=X
    9,655.5332-31.46-0.32%
    SGDIDR=X
    4.9066-0.0088-0.18%
    SGDCNY=X
    1.0350-0.0007-0.07%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,341.10-3.60-0.27%
    GCZ16.CMX
    19.77-0.32-1.61%
    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