Technical Analysis

NZD Technical Evaluation Overview: NZDUSD, NZDJPY, AUDNZD

NZD Evaluation and Speaking Factors

NZDUSD | Key Resistance to Curb Upside

NZDJPY | Cluster of DMAs Providing Resistance

AUDNZD | Fibo Help Holding, Draw back Momentum Easing

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NZDUSD | Key Resistance to Curb Upside

Upside within the pair has as soon as once more stalled on the descending trendline from April 2018 peak, which is located at Zero.6870. This additionally coincides with the 38.2% Fibonacci retracement stage (Zero.6857), providing one other layer of resistance for NZDUSD. Consequently, failure to interrupt above, raises scope for a transfer again in direction of Zero.6700 deal with. Nevertheless, momentum indicators stay considerably marginally bullish, though, as such, a agency break above key resistance may see Zero.7000.

NZDUSD PRICE CHART: Every day Time Body (Jul 2018 – Jan 2019)

NZD Technical Analysis Overview: NZDUSD, NZDJPY, AUDNZD

Chart by IG

NZDJPY | Cluster of DMAs Providing Resistance

Friday’s breakout of the current vary sees NZDJPY now eyeing a cluster of DMAs from Zero.7500-Zero.7545, which may curb additional upside within the cross. Alongside this, bullish momentum indicators have slowed, suggesting that the cross could start to see a slight pullback.

NZDJPY PRICE CHART: Every day Time Body (Aug 2018– Jan 2019)

NZD Technical Analysis Overview: NZDUSD, NZDJPY, AUDNZD

Chart by IG

AUDNZD | Fibo Help Holding, Draw back Momentum Easing

Whereas momentum indicators recommend that dangers stay tilted to additional draw back, this has considerably slowed in current periods with the 61.eight% Fibonacci retracement (1.0470) holding for now. A closing break under nevertheless, more likely to spark retest of 1.04. Topside resistance is located at 1.05, the place bullish momentum could start to choose up supplied that AUDNZD can maintain a breach via 1.0550 (38.2% Fibonacci retracement).

AUDNZD PRICE CHART: Every day Time Body (Nov 2018 – Jan 2019)

NZD Technical Analysis Overview: NZDUSD, NZDJPY, AUDNZD

Chart by IG

KEY RESOURCES FOR FOREX TRADERS

Whether or not you’re a new or skilled dealer, we have now a number of sources obtainable that will help you; indicator for monitoring dealer sentiment, quarterly buying and selling forecasts, analytical and academic webinars held each day, buying and selling guides that will help you enhance buying and selling efficiency, and one particularly for many who are new to foreign exchange.

— Written by Justin McQueen, Market Analyst

To contact Justin, electronic mail him at Justin.mcqueen@ig.com

Comply with Justin on Twitter @JMcQueenFX


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