- The Kiwi sees refreshed downside from December's new highs as risk aversion returns to the fold.
- NZD data remains absent from economic calendars, keeping the pair strung up on broader market sentiment.
NZD/USD is trading back into 0.6880 after December's early open saw the Kiwi lift into six-month highs, but a resurgence in broad-market fears surrounding trade wars is seeing risk-based assets stooping against the US Dollar, especially in the Asia-Pacific region.
New Zealand economic data have been particularly devoid recently, leaving the NZD/USD pairing to trade into general market sentiment headwinds, and despite a steady recovery from October's lows, selling pressure remains built-in for the Kiwi, getting pulled back to the 200-day moving average at 0.6850, but a successful bounce by bidders from the key indicator could see a fresh bullish run get started.
Friday sees another round of the US NFP data dump, and Pacific investors are buckling down for the key data reading. Not content to dominate the economic calendar, the US is also the critical factor in news headlines as well, with US President Trump declaring himself a "Tariff Man" on Twitter this week, further undermining the perceived tariff truce that the US president struck with China's Xi Jinping last weekend, and broader markets are fearing a reappearance of escalating trade tensions between the US and China much sooner than expected.
NZD/USD Technical Levels
Today Last Price: 0.6883
Today Daily change: 4.0 pips
Today Daily change %: 0.0581%
Today Daily Open: 0.6879
Previous Daily SMA20: 0.6829
Previous Daily SMA50: 0.667
Previous Daily SMA100: 0.6667
Previous Daily SMA200: 0.686
Previous Daily High: 0.6904
Previous Daily Low: 0.6856
Previous Weekly High: 0.6887
Previous Weekly Low: 0.6753
Previous Monthly High: 0.6887
Previous Monthly Low: 0.6514
Previous Daily Fibonacci 38.2%: 0.6874
Previous Daily Fibonacci 61.8%: 0.6885
Previous Daily Pivot Point S1: 0.6856
Previous Daily Pivot Point S2: 0.6832
Previous Daily Pivot Point S3: 0.6808
Previous Daily Pivot Point R1: 0.6903
Previous Daily Pivot Point R2: 0.6927
Previous Daily Pivot Point R3: 0.6951
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