FOREX Technical Analysis: NZD/USD Nearing December Low

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.8586-0.0061

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
    1.2518-0.0013-0.10%
    USDSGD=X
    1.7323+0.0012+0.07%
    EURSGD=X
    2.0962+0.0002+0.01%
    GBPSGD=X
    81.6368+0.3405+0.42%
    SGDJPY=X
    6.1941+0.0068+0.11%
    SGDHKD=X
    2.5898+0.0011+0.04%
    SGDMYR=X
    9,130.6689+5.6592+0.06%
    SGDIDR=X
    4.9755+0.0108+0.22%
    SGDCNY=X
    1.1706-0.0024-0.21%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,302.40+2.10+0.16%
    GCM14.CMX
    19.52+0.03+0.16%
    SIK14.CMX
    91.87-1.95-2.08%
    ^XAU
    2.990.00-0.03%
    HGK14.CMX
    103.88+0.13+0.13%
    CLK14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.62+0.02
    ^FVX
    2.63-0.01
    ^TNX
    3.46-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.118-0.005-4.07%
    B22.SI
    1.28+0.025+1.99%
    N21.SI
    0.60+0.010+1.69%
    E5H.SI
    2.20+0.010+0.46%
    JS8.SI
    0.975+0.065+7.14%
    B20.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.675+0.055+8.87%
    5VT.SI
    0.975+0.065+7.14%
    B20.SI
    0.425+0.030+7.59%
    5FD.SI
    1.425+0.075+5.56%
    U19.SI
    0.96+0.055+6.08%
    U2T.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.096-0.011-10.28%
    S13.SI
    0.31-0.015-4.62%
    5SY.SI
    0.30-0.020-6.25%
    502.SI
    0.132-0.008-5.71%
    5BM.SI
    0.17-0.010-5.56%
    5WG.SI