NZD/USD Technical Analysis: Trying for Double Bottom

| 10 augusti, 2015 | 0 kommentarer

To receive Ilya’s analysis directly via email, please SIGN UP HERE

Talking Points:

  • NZD/USD Technical Strategy: Flat
  • Support: 0.6443, 0.6261, 0.6114
  • Resistance:0.6679, 0.6791, 0.6973

The New Zealand Dollar edged higher against its US counterpart as expected after putting in a Bullish Engulfing candlestick pattern. Near-term resistance is at 0.6679, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 0.6791. Alternatively, a turn below the 0.6443-97 area (23.6% Fib expansion, July 16 low) opens the door for a test of the 38.2% level at 0.6261.

The dominant NZD/USD trend continues to favor the downside. With that in mind, we will treat any on-coming gains as corrective and look to an upswing as an opportunity to enter short. In the meantime, we will remain on the sidelines.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

NZD/USD Technical Analysis: Trying for Double Bottom

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

E-postadressen publiceras inte. Obligatoriska fält är märkta *