Advertisement
Singapore markets closed
  • Straits Times Index

    3,290.70
    +24.75 (+0.76%)
     
  • Nikkei

    38,229.11
    +155.13 (+0.41%)
     
  • Hang Seng

    18,963.68
    +425.87 (+2.30%)
     
  • FTSE 100

    8,433.76
    +52.41 (+0.63%)
     
  • Bitcoin USD

    61,012.80
    -1,777.48 (-2.83%)
     
  • CMC Crypto 200

    1,261.74
    -96.27 (-7.09%)
     
  • S&P 500

    5,222.68
    +8.60 (+0.16%)
     
  • Dow

    39,512.84
    +125.08 (+0.32%)
     
  • Nasdaq

    16,340.87
    -5.40 (-0.03%)
     
  • Gold

    2,366.90
    +26.60 (+1.14%)
     
  • Crude Oil

    78.20
    -1.06 (-1.34%)
     
  • 10-Yr Bond

    4.5040
    +0.0550 (+1.24%)
     
  • FTSE Bursa Malaysia

    1,600.67
    -0.55 (-0.03%)
     
  • Jakarta Composite Index

    7,088.79
    -34.81 (-0.49%)
     
  • PSE Index

    6,511.93
    -30.53 (-0.47%)
     

FOREX Technical Analysis: NZD/USD Fibonacci Retracement is at 8271

Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, FOREX Technical Analysis: NZD/USD Fibonacci Retracement is at 8271
eliottWaves_nzd-usd_body_nzdusd.png, FOREX Technical Analysis: NZD/USD Fibonacci Retracement is at 8271

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

FOREXAnalysis: The NZDUSD remains well above the latest swing low of 8155. The 61.8% retracement of the rally from that level was nearly reached today before most losses were retraced during the US session. Like the AUDUSD, I’d need to see a break below 8155 before trading from the short side.

FOREXTrading Strategy: Longs were stopped out at 8320. Stand aside for now.

LEVELS: 8155 8194 8271 8346 8393 8446

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.