FOREX Technical Analysis: NZD/USD Nearing December Low

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.8561-0.006

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
    1.2580+0.0026+0.21%
    USDSGD=X
    1.7397+0.005+0.29%
    EURSGD=X
    2.1133+0.0067+0.32%
    GBPSGD=X
    81.3424-0.3315-0.41%
    SGDJPY=X
    6.1627-0.013-0.21%
    SGDHKD=X
    2.5987-0.0025-0.09%
    SGDMYR=X
    9,257.0527-42.6318-0.46%
    SGDIDR=X
    4.9675-0.0012-0.02%
    SGDCNY=X
    1.1650-0.0009-0.08%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,288.50+3.90+0.30%
    GCM14.CMX
    19.64+0.20+1.01%
    SIK14.CMX
    92.40-0.48-0.51%
    ^XAU
    3.12+0.07+2.14%
    HGK14.CMX
    101.96+0.52+0.51%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.75+0.04
    ^FVX
    2.70+0.01
    ^TNX
    3.48+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.123+0.001+0.82%
    B22.SI
    0.15+0.008+5.63%
    545.SI
    0.635+0.040+6.72%
    5WH.SI
    0.615+0.005+0.82%
    E5H.SI
    1.355+0.005+0.37%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    20.00+4.200+26.58%
    K6S.SI
    1.215+0.190+18.54%
    S53.SI
    0.415+0.045+12.16%
    570.SI
    1.345+0.130+10.70%
    5DA.SI
    0.154+0.014+10.00%
    5GD.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.053-0.059-52.68%
    5TF.SI
    1.62-0.520-24.30%
    N02.SI
    0.20-0.020-9.09%
    E94.SI
    0.179-0.013-6.77%
    567.SI
    0.30-0.020-6.25%
    508.SI