{"id":60634,"date":"2014-09-19T09:44:14","date_gmt":"2014-09-19T13:44:14","guid":{"rendered":"http:\/\/countingpips.com\/?p=60634"},"modified":"2014-09-19T09:45:44","modified_gmt":"2014-09-19T13:45:44","slug":"kiwi-sell-off-hits-a-wall-at-0-8100","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/09\/kiwi-sell-off-hits-a-wall-at-0-8100\/","title":{"rendered":"Kiwi Sell-off Hits a Wall at 0.8100"},"content":{"rendered":"<div id=\"inves-159664034\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 19, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <span style=\"color: #ff0000;\"><strong>Bearish<\/strong><\/span><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>US Dollar continues to gain against Euro and Sterling Pound, steady against Aussie and Kiwi;<\/li>\n<li>NZD\/USD reached a huge support cluster at 0.8100;<\/li>\n<li>Bullish potential opens up on a rally above 0.8229.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><em>The U.S. Dollar remains extremely bullish across the board, however NZD\/USD has been reacting at a much slower pace, indicating a correction might commence soon off 0.8100 \u2013 where we can observe a really large support cluster. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/09\/NZDUSD19thSeptember.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-6565\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/09\/NZDUSD19thSeptember.png\" alt=\"NZDUSD19thSeptember\" width=\"700\" height=\"346\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">While EUR\/USD, GBP\/USD and USD\/CHF show a clear tendency to book further gains in favor of the USD; NZD\/USD is finally showing some signs of exhaustion after touching a low point of 0.8076 on two consecutive days. The pair seems ready to close the week on a neutral\/slightly positive tone, breaking a long losing spreading over five consecutive weeks.<\/p>\n<p style=\"text-align: justify;\">Location wise, 0.8100 represents a monstrous support cluster on the weekly timeframe. A yearly trendline intersects a similarly old price pivot zone, and they are all strengthened by the 200-Week Simple Moving Average (red line). Additionally, NZD\/USD declining from 0.8834 down to 0.81 completes a 61.8% Fibonacci retracement between 0.7682 and 0.8834. With stochastic located in extreme oversold territory, we simply cannot rule out the increasing probability of a temporary bottom forming in this area. A bullish correction will come into play if price develops a Higher High above 0.8229, a move that could pave the way towards 0.8320 and lastly up to 0.8400, where the main downtrend should kick in again.<\/p><div id=\"inves-2755557293\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/09\/NZDUSD19th4HSeptember.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-6563\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/09\/NZDUSD19th4HSeptember.png\" alt=\"NZDUSD19th4HSeptember\" width=\"700\" height=\"346\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">Failure to remain above 0.8100 spells trouble for NZD\/USD, opening potential support levels as low as 0.7700-0.7800 before this overextended downswing will require a correction.<\/p>\n<p>*********<br \/>\nPrepared by Alex Z., Chief Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bearish Key Takeaways US Dollar continues to gain against Euro and Sterling Pound, steady against Aussie and Kiwi; NZD\/USD reached a huge support cluster at 0.8100; Bullish potential opens up on a rally above 0.8229. The U.S. Dollar remains extremely bullish across the board, however NZD\/USD has been reacting at a much slower [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-60634","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/60634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=60634"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/60634\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=60634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=60634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=60634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}