FOREX Technical Analysis: NZD/USD Nearing December Low

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.65940.00

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
    1.3708-0.0013-0.09%
    USDSGD=X
    1.5055-0.0018-0.12%
    EURSGD=X
    2.1440+0.0008+0.04%
    GBPSGD=X
    90.4326+0.1185+0.13%
    SGDJPY=X
    5.6548+0.0051+0.09%
    SGDHKD=X
    2.7887+0.0026+0.09%
    SGDMYR=X
    9,855.5732+9.3281+0.09%
    SGDIDR=X
    4.5298+0.0059+0.13%
    SGDCNY=X
    1.0020+0.0006+0.06%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,094.90+6.90+0.63%
    GCQ15.CMX
    14.79+0.03+0.18%
    SIZ15.CMX
    47.57+0.92+1.98%
    ^XAU
    2.36-0.02-1.03%
    HGU15.CMX
    48.92-1.60-3.19%
    CLZ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.55-0.07
    ^FVX
    2.20-0.06
    ^TNX
    2.93-0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.455-0.065-12.50%
    N21.SI
    2.30-0.20-8.00%
    MC0.SI
    0.315-0.005-1.56%
    E5H.SI
    0.315+0.005+1.61%
    5WA.SI
    0.134-0.005-3.60%
    5DN.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.148+0.020+15.62%
    T77.SI
    0.18+0.02+12.50%
    AVX.SI
    0.365+0.035+10.61%
    5DS.SI
    0.194+0.015+8.38%
    Y08.SI
    0.37+0.03+7.25%
    P9D.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.20-0.08-27.27%
    5UO.SI
    0.325-0.065-16.67%
    5I3.SI
    0.205-0.040-16.33%
    5GD.SI
    0.17-0.03-15.00%
    D79.SI
    0.315-0.055-14.86%
    Y35.SI