FOREX Technical Analysis: NZD/USD Nearing December Low

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.6640-0.0003

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 Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3570+0.003+0.23%
    USDSGD=X
    1.4965+0.0081+0.55%
    EURSGD=X
    2.0970+0.004+0.19%
    GBPSGD=X
    89.7749-0.672-0.74%
    SGDJPY=X
    5.7140-0.0138-0.24%
    SGDHKD=X
    2.8081-0.0142-0.50%
    SGDMYR=X
    9,827.5684-28.4189-0.29%
    SGDIDR=X
    4.5737-0.0138-0.30%
    SGDCNY=X
    1.0029-0.0048-0.48%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,148.40-4.20-0.36%
    GCQ15.CMX
    14.77-0.20-1.36%
    SIU15.CMX
    60.41-3.09-4.86%
    ^XAU
    2.39-0.06-2.47%
    HGU15.CMX
    51.52-0.81-1.55%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.52-0.03
    ^FVX
    2.23-0.05
    ^TNX
    3.01-0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.157-0.006-3.68%
    5GB.SI
    0.122-0.060-32.97%
    5I0.SI
    0.695-0.020-2.80%
    N21.SI
    0.23-0.02-8.00%
    AFC.SI
    0.395-0.005-1.25%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.48+0.08+21.52%
    AXC.SI
    0.275+0.025+10.00%
    PA3.SI
    0.32+0.03+8.47%
    UV1.SI
    0.55+0.04+7.84%
    5DO.SI
    0.29+0.02+7.41%
    S46.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.122-0.060-32.97%
    5I0.SI
    0.21-0.08-26.32%
    T18.SI
    0.315-0.105-25.00%
    I85.SI
    0.55-0.15-21.43%
    AXL.SI
    0.178-0.037-17.21%
    D79.SI