Is that a triple top or a pseudo-head and shoulders formation? The pair seems to be having trouble making any headway past the .8050 mark, as signaled by this reversal chart pattern. The neckline is around the .8000 mark and the pair appears to have broken down already. Will it continue to sell off from here?
Yes, it is possible that we are facing a triple top, also due to the importance of the resistance of area 0.81.
Something just broke and no, it’s not my heart this time! NZD/USD just blasted below the mid-channel support on the 4-hour chart and it looks like it could head for the possible support at the channel bottom. You could jump in now if you’re one of the Kiwi bears, but watch out for possible break-and-retest scenarios!
I think that the low part of the channell will be surely involved before the end of the month. August is a complicated month for Aud and Nzd.
Aaaand NZD/USD is at the bottom! As elisab has suggested, the bottom of NZD/USD’s channel on the 4-hour chart turned out to be a significant level for the Kiwi. The question is, how low can this pair go? Will the channel support hold or are we looking at another downside break?
As seen from daily chart downtrend is still on which is verified by macd and volume chart and also moving averages as they are widening. The 88.6 level of fib arc and pivot point are next targets. But on a 4H chart Volume indicator and MACD indicates uptrend and it looks like 100 percent retracement with 61.8 as target. So i guess answer to your question is this will hold for short time but i doubt it in long term. I am a newbie ,just started forex this month and still learning. Hope this answers your question
The Kiwi closes August with an extended body of bearish black candle that incorporates the white one of the bullish candle of July. A bad sign for NzdUsd.
Yeah fundamentals and technicals seem to be painting different pictures. Bullish divergence on NZD/USD but risk is off… hmm…
NZD/USD might be ready to start a new trend, ladies and gents! The pair is slowly making its way out of the falling channel on its 1-hour time frame, suggesting the beginning of an uptrend. If that’s the case, NZD/USD could climb back up to the .8000 major psychological level while stochastic is also northbound.
How high can the Kiwi go? Based on the pair’s 4-hour time frame, it appears that NZD/USD might be approaching resistance around .8100 pretty soon. Stochastic is ridiculously overbought, which means that Kiwi bulls are already very exhausted. Is it gonna bounce or break this time?
This evening great expectations for the New Zealand central bank decision on rates. I would choose the short NzdUsd on the resistance.
Hmm, that decision was pretty bullish for NZD but the latest Australian jobs report is weighing it down. Where’s your stop?
Kiwi is strengthening but close to the resistance: New Zealand Dollar Up Late After Hawkish RBNZ Statement - WSJ.com
Bahh, looks like the NZD rally is losing momentum. Think it’s time to buy it at better prices though?
Will the Kiwi keep reaching for new highs? The steep rising trend line on its 1-hour chart is still holding up really well, as the pair appears ready to make a test of the .8200 major psychological support. A bounce could mean a move up to the .8300 area while a breakdown could signal the start of a reversal.
Anybody thinking of going long for the FOMC/Septaper announcement? Or is it more likely to break the trend line?
NZD/USD seems unable to sustain its rallies past the .8400 mark, as it is pulling back for a potential correction to the .8100 zone. This is in line with a previous resistance level and the 50% Fibonacci retracement level. Stochastic is moving south, hinting at a potential retracement as well.
NZD/USD has been slowly climbing inside a rising channel on the 1-hour time frame and looks ready to test resistance. Will it hold or fold? Stochastic is still pointing up, which means that Kiwi bulls have enough energy to push the pair much higher. How high do you think it’ll go?
NZD/USD seems to be having a tough time making its way north, as it could take a quick retracement to the .8100 handle. This is in line with the 50% Fib and a former resistance level, which could act as support from now on. Stochastic is pointing down, which means that bears are in control at the moment.
