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NZDUSD Poised to Challenge 33 Year High at .8845!

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NZDUSD Poised to Challenge 33 Year High at .8845!

ZDUSD eyes multi-decade, secular high from 2011 at .8845

  • An inside Friday after the Thursday prod higher, still hesitant at the key long term resistance barrier at .8845 (see below), but we still see a resilient tone.

  • The rebound last week from ahead of the consolidation support line, now .8715 leaves risks still higher whilst above here and even modest support at .8780/75.

  • We see risk to the 2011 peak at .8845, the highest level for NZDUSD for 33 years (since Q2 1981).

  • A break above here would aim for minor targets at .8900 and .8955, with a key target at .9000.

 

WHAT CHANGES THIS?

  • Below .8775 eases bull risks; through .8715 signals a neutral tone, only shifting negative below .8662.

4 Hour NZDUSD Chart 

NZDUSD

Quarterly NZDUSD Chart

NZDUSD

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Tagged in: Forex FX NZD NZDUSD

Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.


He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).


Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.


Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.

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