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FxWirePro: NZD/USD breaks below 78.6% Fib, breach of channel support opens up further downside

NZD/USD chart - Trading View 

  • NZD/USD is extending weakness for the 5th striaght session, bias bearish.
     
  • Price action has breached channel support 0.6565. Break below has opened up further downside.
     
  • Momentum studies are highly bearish. Stochs and RSI are sharply lower.
     
  • Volatility rising as indicated by widening Bollinger Bands on weekly charts.
     
  • The pair has broken below 78.6% Fib at 0.6541 and next bear target lies at 0.6486 (88.6% Fib).
     
  • We see scope for weakness till 0.6424 (Oct 8th low). Bearish invalidation only above 200-DMA.

Support levels - 0.65, 0.6486 (88.6% Fib), 0.6424 (Oct 8th low)

Resistance levels - 0.6556 (5-DMA), 0.6632 (61.8% Fib), 0.6714 (200-DMA)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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June 18 23:50 UTC Released

JPTrade Balance Total Yen

Actual

-967.1 Bln JPY

Forecast

-979.2 Bln JPY

Previous

60.4 Bln JPY

June 18 23:50 UTC Released

JPImports YY

Actual

-1.5 %

Forecast

0.2 %

Previous

6.4 %

January 31 00:00 UTC 725831725831m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 725831725831m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 737651737651m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 725831725831m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 737651737651m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 725831725831m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 725831725831m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 725831725831m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

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