NZD/USD: Bullish vibes to carry kiwi towards next resistance at 0.7108 in a grinding fashion – DBS Bank

FXStreet Insights Team FXStreet

Since the onset of the Russia-Ukraine conflict, NZD/USD has reversed its course from a 0.6530 low to see gains around 3%. The kiwi is now approaching cloud resistance at 0.7024. Above here lies a resistance zone at 0.7074-0.7108, Benjamin Wong, Strategist at DBS Bank reports.

Still grinding higher

“NZD’s uptrend remains intact given a move over 200-day moving average 0.6911 which places a potential test of weekly Ichimoku cloud resistance at 0.7024. The latter opens up further at a resistance zone at 0.7074-0.7108.”

“Further upside wiggle room is to be expected before NZD runs off its tarmac in May – May is typically a weaker month for NZD bulls to navigate.”

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD clings to small gains near 1.3450 after UK jobs data

GBP/USD trades in positive territory at around 1.3450 in the European session on Tuesday. The UK ILO Unemployment Rate remained at 4.9% in the three months to May, compared with expectations of 5%, but failed to provide any impetus to the British Pound's renewed uptick. Traders stay cautious amid US-Iran uncertainty and the UK political transition.

EUR/USD keeps range above 1.1400 after German ZEW

EUR/USD struggles to find direction and fluctuates in a narrow channel above 1.1400 on Tuesday, as the US Dollar (USD) stabilizes following Monday's rebound. The uncertainty around the US-Iran conflict limits the pair's upside but traders refrain from taking large positions ahead of the European Central Bank policy announcements on Thursday, which could drive the Euro's near-term valuation.

Gold extends recovery toward $4,100

Gold gains traction following Monday's choppy action and advances toward $4,100 on Tuesday. However, the uncertainty surrounding the conflict in the Middle East and growing expectations for a hawkish Federal Reserve policy outlook could make it difficult for the precious metal to gather bullish momentum in the near term.

Bitcoin extends advance as ETF inflows, Iran war mediators' proposal lift risk mood

Bitcoin extends its gains, trading above $65,800 after closing above the key technical hurdle the previous day. The bullish price action is further supported by the return of institutional demand, with spot Exchange Traded Funds continuing their inflows on Monday. In addition, the renewed hopes for peace between the US and Iran have lifted risk sentiment, providing an additional tailwind for the Crypto King.

Buy the dip on the Dow Jones and S&P? Forex Trading Gold descending triangle

Trading during a war, a pandemic, during trade disputes, and other geopolitical events, especially when some major players are sociopathic, can be quite challenging. The Iran war is no exception. The Iran war is no exception.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.