# NZDUSD Triangle Support (Aug 17, 2015) Source: https://www.tradersway.com/resources/market-info/nzdusd-triangle-support-aug-17-2015/ Language: en Updated: 2015-08-17 Description: Explore NZDUSD Triangle Support (Aug 17, 2015). NZDUSD got rejected. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. NZDUSD got rejected in its test of the descending triangle resistance and is now moving back to the bottom around the .6500 major psychological level. Whether a bounce or a break takes place depends on the outcome of the economic reports from New Zealand in the next few days. If support holds, the pair could make another test of the triangle resistance near the .6600 major psychological level. But if it breaks, price could fall by around 200 pips or the same height as the chart pattern. The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. However, stochastic is starting to move out of the oversold zone, signaling that a bounce might take place. RSI is on middle ground, barely offering good signals at the moment. New Zealand will be having another dairy trade auction within the week and a drop in dairy prices is expected. In that case, NZDUSD could be in for a sharp selloff, depending on the magnitude of the decline. Aside from that, data on quarterly producer prices is also lined up. As for the US, CPI figures are due later on in the week and both headline and core readings are expected to show 0.2% gains. Stronger than expected data could support the odds of a Fed rate hike in September while weak readings could prompt traders to push back their expectations to December or early 2016. ![NZDUSD Triangle Support (Aug 17, 2015)] Commodity trends could continue to dictate price action for this pair in the next few days, with a slight bias to the downside since gold and oil prices have been tumbling. However, the lower odds of a Fed rate hike due to the Chinese central bank’s efforts to devalue their currency might also keep the dollar’s gains limited. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/nzdusd-triangle-support-aug-17-2015/#primary", "url": "https://www.tradersway.com/resources/market-info/nzdusd-triangle-support-aug-17-2015/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/nzdusd-triangle-support-aug-17-2015/", "headline": "NZDUSD Triangle Support (Aug 17, 2015)", "inLanguage": "en", "datePublished": "2015-08-17T08:30:49+00:00", "dateModified": "2015-08-17T08:30:49+00:00", "articleSection": "Market Info", "description": "Explore NZDUSD Triangle Support (Aug 17, 2015). NZDUSD got rejected. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/c/tradersway" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/nzdusd-triangle-support-aug-17-2015/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "NZDUSD Triangle Support (Aug 17, 2015)", "item": "https://www.tradersway.com/resources/market-info/nzdusd-triangle-support-aug-17-2015/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```