- Kiwi toppled, as headlines have come with news whereby the Trump administration is reportedly planning to publish a list of 'new' tariffs that are to be imposed on $200 billion worth of Chinese goods.
- NZD/USD Support comes as 0.6770 and resistance comes as 0.6860.
NZD/USD is currently trading at 0.6820 with a high of 0.6842 overnight made in NY, being hit up upon fresh trade war angst headlines that are hurting the commodity sectors and commodity-FX.
From recent trade, headlines have come with news whereby the Trump administration is reportedly planning to publish a list of 'new' tariffs that are to be imposed on $200 billion worth of Chinese goods. This comes ahead of the NATO meetings that will take place this week in Wales where Trump has already started to set out his demands even before he boarded his flight, threatening to reduce U.S. military support if allies do not increase spending, pushed for the 28 other NATO members to spend more money again on Tuesday.
Kiwi is drifting awaiting directional signals
Meanwhile, and in the main, the kiwi is drifting a little at the moment as it waits for clearer directional signals, as analysts at ANZ Bank New Zealand Limited explained, "Fewer trade headlines over the past few days have given risk appetites a mild boost, but the NZD has not really joined in the rally, with it looking capped around 0.6860 for now."
NZD/USD levels
Support comes as 0.6770 and resistance comes as 0.6860 (21-D SMA 0.6859). 0.6920 is a line in the sand, that if broken, puts the bulls back in control and the June highs will be up for grabs. However, bulls really need to get above the 200-month moving average resistance at 0.7007. 0.6783 is where the 10-D SMA is located, back in the descending channel, a few pips above last week's closing daily stick's low.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD rises toward 1.0700 after Germany and EU PMI data
EUR/USD gains traction and rises toward 1.0700 in the European session on Monday. HCOB Composite PMI data from Germany and the Eurozone came in better than expected, providing a boost to the Euro. Focus shifts US PMI readings.
GBP/USD holds above 1.2350 after UK PMIs
GBP/USD clings to modest daily gains above 1.2350 in the European session on Tuesday. The data from the UK showed that the private sector continued to grow at an accelerating pace in April, helping Pound Sterling gather strength.
Gold price flirts with $2,300 amid receding safe-haven demand, reduced Fed rate cut bets
Gold price (XAU/USD) remains under heavy selling pressure for the second straight day on Tuesday and languishes near its lowest level in over two weeks, around the $2,300 mark heading into the European session.
PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange
Pendle is among the top performers in the cryptocurrency market today, posting double-digit gains. Its peers in the altcoin space are not as forthcoming even as the market enjoys bullish sentiment inspired by Bitcoin price.
US S&P Global PMIs Preview: Economic expansion set to keep momentum in April
S&P Global Manufacturing PMI and Services PMI are both expected to come in at 52 in April’s flash estimate, highlighting an ongoing expansion in the private sector’s economic activity.