NZD/USD climbs above 0.6560 on broad USD weakness

  • NZD/USD started the new week on a strong footing.
  • Upbeat data from China helped NZD gather strength on Monday.
  • US Dollar Index pushes lower following last week's impressive rally.

The NZD/USD pair lost more than 200 pips last week but staged a rebound on Monday. As of writing, the pair was up 0.3% on a daily basis at 0.6562.

Risk flows hurt USD on Monday

The broad-based USD weakness at the start of the week seems to be helping the pair retrace its losses. The US Dollar Index, which rose 1.7% last week, is down 0.4% at 94.21. In the absence of significant macroeconomic data releases, risk sentiment seems to be impacting the USD's performance against its rivals.

Reflecting the upbeat market mood, major European equity indexes are up between 1.5% and 2.7%. Additionally, S&P 500 futures are gaining 1.35%, suggesting that Wall Street could open sharply higher and further weigh on the safe-haven USD in the second half of the day.

Meanwhile, the data from China over the weekend showed that industrial profits in August surged by 19.1% on a yearly basis in August to $89.8 billion and helped the China-proxy kiwi gain its footing in the early Asian session.

The only data featured in the US economic docket On Monday will be the Dallas Fed Manufacturing Business Index. Investors, however, are likely to ignore this data and remain focused on markets' risk perception. There won't be any data releases from New Zealand on Tuesday.

Technical levels to watch for


Today last price 0.6562
Today Daily Change 0.0017
Today Daily Change % 0.26
Today daily open 0.6545
Daily SMA20 0.6682
Daily SMA50 0.664
Daily SMA100 0.6504
Daily SMA200 0.6393
Previous Daily High 0.6594
Previous Daily Low 0.6525
Previous Weekly High 0.6778
Previous Weekly Low 0.6511
Previous Monthly High 0.6764
Previous Monthly Low 0.6488
Daily Fibonacci 38.2% 0.6567
Daily Fibonacci 61.8% 0.6551
Daily Pivot Point S1 0.6515
Daily Pivot Point S2 0.6485
Daily Pivot Point S3 0.6446
Daily Pivot Point R1 0.6584
Daily Pivot Point R2 0.6623
Daily Pivot Point R3 0.6653



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.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

LIVE: Trump and Biden clash in final debate, tensions are high

US President Trump and former VP Biden have their last chances to influence undecided voters on the national stage. Markets are watching. Live. 


EUR/USD stable around 1.1820 ahead of US presidential debate

The EUR/USD pair spent the American session consolidating around 1.1820. Hopes for a US stimulus deal backed the greenback ahead of the US presidential debate.


Gold: Bears seeking a continuation below key daily support

Gold prices are back under pressure and below a critical trendline on the daily chart. The swing trading opportunities are caught up in the wash of volatility. A day trading strategy could offer an opportunity if price obeys market structure.

Gold News

AUD/USD fuelled 0.2% by strong PMI Composite in early Asia

AUD is up on the day so far as early data gives the bulls a head start. Early Asia has been kind to Aussie bulls with the price of the currency extending its late New York gains with a robust Construction PMI report, solidly above the 50.0 expansion level, arriving at 54.2.


WTI bulls keep the fuell buring into Wall Street close

West Texas Intermediate crude oil is higher on the day, although has run into resistance and started to consolidate.

Oil News