TRENDING:

GBP/USD

XAU/USD

Kiwi holding on at the top end, NZD/USD looking to make a meaningful break of 0.6020

NZD/USD trying to hold onto territory north of 0.6000 as Kiwi catches a Monday bid.
Further upside likely to remain constrained as investors await further input from RBNZ.
US Dollar flows to dictate directional momentum with little meaningful data on the economic calendar for the Kiwi.

Joshua Gibson FXStreet

The NZD/USD caught an early morning bid on Monday, getting lifted into the 0.6000 handle, pushing the pair back into the top end of recent consolidation.

The Kiwi (NZD) has largely avoided broad-market safe haven flows for Monday, with the US Dollar seeing gains against the majority of the board.

Forex Today: Safe-haven flows dominate as geopolitical tensions escalate on Israel-Hamas conflict

The Reserve Bank of New Zealand (RBNZ) was last seen holding steady on interest rates, but with a "higher-for-longer" narrative lean to the RBNZ's latest showings, investors will be looking ahead to more inflation figures from New Zealand, as well as the Kiwi's central bank next showing due in November.

It's a thin week for the Kiwi on the economic calendar, with Visitor Arrivals on Tuesday, final Food Price Index figures on Wednesday, and Business NZ's Purchasing Manager Index (PMI) slated for Thursday.

The US data docket is likely to be the main driver for the NZD/USD this week, with Wednesday bringing Producer Price Index (PPI) figures along with the latest Federal Reserve's (Fed) meeting minutes publishing; Thursday will follow up with a Consumer Price Index (CPI) release, and Friday will cap off the week with the Michigan Consumer Sentiment Index for October.

The US PPI is expected to tick upwards to 2.3% from 2.2%, while CPI is seen stepping down from 3.7% to 3.6%, and the Michigan sentiment index is expected to decline from 68.1 to 67.4.

NZD/USD Technical Outlook

The Kiwi is getting pushed into the top end for Monday, pinning into the 0.6020 level after the day's opening bids near 0.5967.

Monday's bullish push is seeing the Kiwi tapping into the ceiling of recent consolidation on the daily candlesticks, and NZD/USD bidders will be looking for a decisive break of late September's peak at 0.6050.

There's nowhere to go but up for the NZD/USD, with the pair still well off July's swing high into 0.6413, with the 200-day Simple Moving Average (SMA) far above current price action near 0.6175.

NZD/USD Daily Chart

NZD/USD Technical Levels

NZD/USD

Overview
Today last price	0.6017
Today Daily Change	0.0033
Today Daily Change %	0.55
Today daily open	0.5984

Trends
Daily SMA20	0.5937
Daily SMA50	0.5963
Daily SMA100	0.6066
Daily SMA200	0.617

Levels
Previous Daily High	0.6004
Previous Daily Low	0.5923
Previous Weekly High	0.6009
Previous Weekly Low	0.587
Previous Monthly High	0.605
Previous Monthly Low	0.5847
Daily Fibonacci 38.2%	0.5973
Daily Fibonacci 61.8%	0.5954
Daily Pivot Point S1	0.5937
Daily Pivot Point S2	0.5889
Daily Pivot Point S3	0.5856
Daily Pivot Point R1	0.6018
Daily Pivot Point R2	0.6051
Daily Pivot Point R3	0.6099

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD rebounds after falling toward 1.1700

EUR/USD gains traction and trades above 1.1730 in the American session, looking to end the week virtually unchanged. The bullish opening in Wall Street makes it difficult for the US Dollar to preserve its recovery momentum and helps the pair rebound heading into the weekend.

GBP/USD steadies below 1.3400 as traders assess BoE policy outlook

Following Thursday's volatile session, GBP/USD moves sideways below 1.3400 on Friday. Investors reassess the Bank of England's policy oıtlook after the MPC decided to cut the interest rate by 25 bps by a slim margin. Meanwhile, the improving risk mood helps the pair hold its ground.

Gold stays below $4,350, looks to post small weekly gains

Gold struggles to gather recovery momentum and stays below $4,350 in the second half of the day on Friday, as the benchmark 10-year US Treasury bond yield edges higher. Nevertheless, the precious metal remains on track to end the week with modest gains as markets gear up for the holiday season.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid bearish market conditions

Bitcoin (BTC) is edging higher, trading above $88,000 at the time of writing on Monday. Altcoins, including Ethereum (ETH) and Ripple (XRP), are following in BTC’s footsteps, experiencing relief rebounds following a volatile week.

How much can one month of soft inflation change the Fed’s mind?

One month of softer inflation data is rarely enough to shift Federal Reserve policy on its own, but in a market highly sensitive to every data point, even a single reading can reshape expectations. November’s inflation report offered a welcome sign of cooling price pressures.

XRP rebounds amid ETF inflows and declining retail demand demand

XRP rebounds as bulls target a short-term breakout above $2.00 on Friday. XRP ETFs record the highest inflow since December 8, signaling growing institutional appetite.