NZD/USD bears going for the reversal as the Kiwi rejected 0.74 handle

NZD/USD is weakening as the US dollar is gaining some traction.
Recent comments made by Chinese spokesman suggest that US-China trade war is not over just yet.

Flavio Tosti Independent Analyst

The NZD/USD is trading at around 0.7359 down 0.22% on Friday as the bears are challenging the 0.7359 level which is Thursday’s opening price.

This week the NZD has re-conquered levels which were not seen since mid-March trading as high as 0.7396 on Friday April 13. However the kiwi is losing some steam as comments on Thursday by Gao Feng, commerce ministry spokesman in China, said that “it would be misleading to say Xi's pledge this week was a concession to the United States. China will not hesitate to fight back if the U.S. escalates the trade spat.”

New-Zealand is a major trade partner with China. This week the NZD was boosted by the easing of tensions in the US-China trade war. On Tuesday, Chinese President Xi Jinping said that he was willing to open up its economy to free trade and lower tariffs to US automakers among others.

The recent news from the US has strengthened the US dollar. The core annualized inflation for March was at 2.1% above the 2% target by the Fed. Additionally, the FOMC minutes were rather hawkish with all members agreeing that it was appropriate to hike rates gradually.

Coming up next on Friday is the speech of the FOMC member Kaplan at 17:00 GMT. Earlier the preliminar readings for the Michigan Consumer Sentiment Index for April came in worst-than-expected as well as the JOLTS Job Openings for February. The data didn’t affect the US dollar in a significant manner.

NZD/USD 4-hour chart

The bears are trying to reverse the current bull trend. Resistance is at the 0.74 figure and swing high, followed by 0.7440 swing high made in mid-February. Looking down, supports lie at 0.7344 swing low and 0.7323 swing high.

Author

Flavio Tosti

Independent Analyst

GBP/USD: Daily gains remain capped by 1.3650

GBP/USD leaves behind Monday’s pessimism and advances marginally on Tuesday. Cable’s humble gains, however, appear to have met quite a decent resistance in the 1.3650 zone for now, in a context of a slight selling pressure hovering around the Greenback.

EUR/USD picks some pace, retests 1.1670

EUR/USD advances modestly and revisits the 1.670 zone on turnaround Tuesday. The pair’s slight advance comes after two daily drops in a row and follows the humble decline in the US Dollar, while investors gear up for upcoming US data and the Jackson Hole Symposium.

Gold treads water around $4,650

Gold navigates the middle of its daily range near $4,650 per troy ounce on Tuesday. The lack of clear direction in the yellow metal comes on the back of the widespread cautious tone among market participants, a mildly offered stance in the US Dollar and a marked decline in US Treasury yields across the curve.

Crypto Today: Bitcoin soars past $80K as Ethereum and XRP hold gains

Bitcoin (BTC) is trading above $80,000 on Tuesday. This is the highest level the Crypto King has traded since mid-May, underscoring a positive shift in investors' risk-on sentiment, liquidity conditions and the technical outlook.

Nvidia earnings: A quick look at expectations

The 2026 Q2 earnings season is nearly over for S&P 500 members, with the reporting cycle notably positive. But looming large this week is none other than AI-favorite NVIDIA (NVDA) , whose results will wrap up the reporting cycle for the Magnificent Seven group as well.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.