FOREX Technical Analysis: NZD/USD Nearing December Low

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.7559+0.0007

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
    1.3628+0.0003+0.02%
    USDSGD=X
    1.5231-0.0002-0.01%
    EURSGD=X
    2.09310.000.00%
    GBPSGD=X
    87.7527-0.0675-0.08%
    SGDJPY=X
    5.6909-0.0008-0.01%
    SGDHKD=X
    2.6599+0.0003+0.01%
    SGDMYR=X
    9,514.2197-16.0596-0.17%
    SGDIDR=X
    4.6012-0.004-0.09%
    SGDCNY=X
    1.0657+0.0005+0.05%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,220.00+6.90+0.57%
    GCJ15.CMX
    16.74+0.18+1.10%
    SIK15.CMX
    73.81-1.45-1.93%
    ^XAU
    2.71+0.02+0.65%
    HGK15.CMX
    49.23-0.53-1.07%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.61+0.04
    ^FVX
    2.12+0.04
    ^TNX
    2.71+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.425+0.010+2.41%
    E5H.SI
    0.995-0.015-1.49%
    N21.SI
    100.007-0.0050.00%
    41H.SI
    4.17-0.01-0.24%
    Z74.SI
    0.30+0.03+9.09%
    AFC.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.35+0.05+16.67%
    Y06.SI
    0.575+0.045+8.49%
    RF7.SI
    0.30+0.03+9.09%
    AFC.SI
    0.175+0.008+4.79%
    5OU.SI
    0.12+0.01+5.26%
    G31.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.121-0.009-6.92%
    L08.SI
    0.199-0.011-5.24%
    T06.SI
    0.455-0.025-5.21%
    Y45.SI
    0.176-0.008-4.35%
    P12.SI
    0.20-0.01-4.76%
    MQ4.SI