NZD/USD closes in on 23-month highs near 0.6940


  • NZD/USD is pushing higher after closing in the red on Thursday.
  • US Dollar Index stays calm below 92.50 on Friday.
  • Wall Street looks to start the day modestly lower. 

After advancing to its highest level since late 2018 at 0.6946 on Wednesday, the NZD/USD staged a technical correction and closed in the negative territory on Thursday. With the relatively upbeat market mood providing a boost to the risk-sensitive kiwi on Friday, the pair gained traction and was last seen trading at 0.6940, where it was up 0.4% on a daily basis.

NZD/USD headed for third straight weekly gain

In the absence of significant fundamental drivers, market sentiment continues to impact NZD/USD's movements. At the moment, major European equity indexes gain between 0.5% and 0.75% and the 10-year US Treasury bond yield is up 1.6% to confirm the risk-positive environment. 

However, the S&P 500 Futures are posting modest daily losses, suggesting that risk flows could soften in the second half of the day and help the US Dollar Index (DXY) edge higher. Currently, the DXY is virtually unchanged at 92.35.

Earlier in the day, the data from New Zealand showed that Credit Card Spending in October contracted by 6.3% on a yearly basis. This reading came in much better than the market expectation for a decline of 14.5% and helped the kiwi start the day on a strong footing.

There won't be any macroeconomic data releases from the US on Friday and NZD/USD remains on track to close the third consecutive week in the positive territory.

Technical levels to watch for

NZD/USD

Overview
Today last price 0.694
Today Daily Change 0.0013
Today Daily Change % 0.19
Today daily open 0.6927
 
Trends
Daily SMA20 0.6769
Daily SMA50 0.6688
Daily SMA100 0.6652
Daily SMA200 0.6415
 
Levels
Previous Daily High 0.693
Previous Daily Low 0.6878
Previous Weekly High 0.6915
Previous Weekly Low 0.6783
Previous Monthly High 0.6726
Previous Monthly Low 0.6546
Daily Fibonacci 38.2% 0.691
Daily Fibonacci 61.8% 0.6898
Daily Pivot Point S1 0.6893
Daily Pivot Point S2 0.686
Daily Pivot Point S3 0.6841
Daily Pivot Point R1 0.6945
Daily Pivot Point R2 0.6964
Daily Pivot Point R3 0.6997

 

 

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.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD advances after US PCE inflation

EUR/USD pressures weekly highs as US core PCE inflation jumped to 3.4% YoY in May, as expected. High yielding assets accelerate their advances to the detriment of the greenback, as government bond yields hold steady.

EUR/USD News

GBP/USD battles with 1.3900, still affected by BOE’s decision

GBP/USD remains depressed around 1.3900, pressured by the dovish BOE's surprise offsetting the renewed weakness in the US dollar. Worsening market mood amid Delta covid strain concerns weigh on the pound

GBP/USD News

XAU/USD rises towards key $1794 resistance ahead of US PCE inflation

Gold is picking up the bid tone in European trading, taking advantage of the retreat in the US Treasury yield and the dollar across the curve. 

Gold News

SafeMoon Price Prediction: SAFEMOON ponders 25% advance

SafeMoon price has underperformed relative to top altcoins but is preparing for a move higher. A retest of the range low at $0.00000257 seems likely before SAFEMOON catapults.

Read more

US PCE inflation preview: Data likely to reaffirm FOMC's hawkish tilt

The US Bureau of Economic Analysis will release the PCE inflation report on Friday, June 25. Markets expect the Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, to rise to 3.4% on a yearly basis in May from 3.1% in April.

Read more

Forex MAJORS

Cryptocurrencies

Signatures