Tag Archives: NZD/USD
Technical Analysis
Dollar rally paused – not reversed. EUR/USD 1.2974 kept safe – for now… EUR/JPY Respecting support… EUR/GBP Fresh low rejected… EUR/SEK Near-term correction printed? USD/SEK Small setback to a bullish case… EUR/NOK Minimum “wave-C” target met… NOK/SEK Correctional grind (higher)… NZD/USD Bear flag ready to go.
Muted market reaction to China’s Yuan band widening
Today’s Asian session was a rather muted affair, despite a couple of weekend announcements from the People’s Bank of China. They announced a widening of its daily Yuan trading band to 1 percent in either direction from the fix, up from the existing 0.5 percent with intended aim according to the PBOC to “meet market […]
Technical Analysis – FX Daily Majors
Today’s highlights: · USDJPY: Holds at key near-term support target, 80.58, but only above 81.88 eases downside risks. · AUDUSD: Push above trend line resistance from February eases immediate bear threat, but 1.0465 is needed for a small base (which we would look to cap).
Technical Analysis – FX Daily Majors
Today’s highlights: USDJPY: Another “bearish “outside” pattern plunges towards key near-term support target , 80.58, which we look to hold near term.
Daily FX Technical Strategy: European concerns
European problems are not going away. Last week was the worst week so far this year for key US and European equities and the US and German rates markets responded accordingly with a bid. That the US/German yield spread is testing the lows of this year is a telling sign for Europe.
Technical Analysis – FX Daily Majors
Today’s highlights: EURUSD: Eyeing Head & Shoulders neckline, 1.3030; below targets 1.2805. USDJPY: Forceful Friday plunge through 81.96/83 support keeps correction risk still lower through 81.07 retrace level to our 80.58 target.
Technical Analysis – FX Daily Majors
___________________________________________________ Trade on currency with CMC Markets – Trusted FX Brokers ___________________________________________________ Today’s highlights: EURUSD: Short-term top enhanced and a more defensive sideways theme below 1.3134. Head & Shoulders top risks are resurrecting, needing a break of the “neckline”, 1.3025. GBPUSD: Small top/short-term bear reversal (back from 1.6090 barrier) reinforced with prod at 1.5842. Sideways […]
Technical Analysis – FX Daily Majors
Today’s highlights: AUDUSD: Spotlight on six month up trend line, 1.0325 (setting back from Q1 topping trend barrier). A close below this key support risks April move to 1.0145/15 target. NZDUSD: Poised at minor chart prop at .8143 (back from ahead of .8282 chart resistance) with risk still lower back our .8050/7996 target (and lower […]
Daily FX Technical Strategy: US Dollar dip helps prop up commodity currencies
Commodity prices are benefiting from the near-term dip in the US dollar. Brent crude has broken bullishly from its contracting range and copper looks set to follow suit, with a similar bullish set-up confirmed on a break above 8660. On the back of this, commodity currencies are also turning positive within range.
Technical Analysis – FX Daily Majors
Today’s highlights: · EURUSD: Clear break above 1.3292/94 negates any defensive bias for a more constructive tone, with risk to the 1.3487/3510 major resistance · GBPUSD: Eyes the Q1 recovery peak at 1.5991, through which opens the door to the Q4 (near 7-month) high, 1.6167 (interim hurdle 1.6090)
Technical Analysis – FX Daily Majors
Today’s highlights: · USDJPY: Small “Double Top” through 83.01 favours defensive consolidation with risk down to 81.96 (which we look to hold), before next leg higher (to 85.54).
Daily FX Technical Strategy: US yield rise lends further USD support
Having broken out of well-established ranges earlier in the week, US yields are surging higher across the curve. Into next week, we suspect the pace of the move will slow given approaching stronger support but for the time being, the dollar is responding.