NZD/USD continues to recover Monday's losses, trades around 0.6430

  • Renewed US-China trade optimism helps antipodeans find demand.
  • AUD gathers strength after RBA maintains status quo.
  • Economic activity in China's services sector expanded at a softer pace than expected. 

The NZD/USD pair erased 30 pips on Monday but gained traction during the Asian trading hours on Tuesday and started to recover its losses. As of writing, the pair was trading at 0.6428, adding 0.42% on a daily basis.

The ANZ Commodity Price Index came in at +1.2% in October in New Zealand to beat the market expectation of 0.2% and provided a boost to the NZD on Tuesday. Additionally, the Reserve Bank of Australia (RBA) announced that it kept its policy rate unchanged at 0.75% and refrained from hinting at a rate cut in December and allowed the AUD/USD pair to push higher, supporting the positively-correlated NZD/USD pair as well.

Meanwhile, comments from officials from both sides at the start of the week suggested that the United States and China are moving closer to completing the phase-one of the trade deal and helped antipodeans outperform their major rivals.

USD stays quiet ahead of mid-tier data

In the second half of the day, the IBD/TIPP Economic Optimism Index, the ISM Non-Manufacturing Purchasing Managers' Index (PMI) from the US will be featured in the economic calendar. Ahead of these data releases, the US Dollar Index is consolidating Monday's gains near mid-97s. Furthermore, the bi-weekly Global Dairy Trade (GDT) auction in New Zealand will be looked upon for fresh impetus.

Technical levels to watch for


Today last price 0.6426
Today Daily Change 0.0031
Today Daily Change % 0.48
Today daily open 0.6395
Daily SMA20 0.6358
Daily SMA50 0.6341
Daily SMA100 0.6464
Daily SMA200 0.6591
Previous Daily High 0.6466
Previous Daily Low 0.6389
Previous Weekly High 0.6458
Previous Weekly Low 0.6333
Previous Monthly High 0.6437
Previous Monthly Low 0.6204
Daily Fibonacci 38.2% 0.6418
Daily Fibonacci 61.8% 0.6437
Daily Pivot Point S1 0.6367
Daily Pivot Point S2 0.634
Daily Pivot Point S3 0.629
Daily Pivot Point R1 0.6444
Daily Pivot Point R2 0.6494
Daily Pivot Point R3 0.6521



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.

Feed news

Latest Forex News

Editors’ Picks

GBP/USD catches fresh bids, regains1.3400 ahead of UK PMIs

GBP/USD sees a fresh leg higher in early European trading, as the bulls take out the 1.34 handle amid growing optimism over a speedy and soft Brexit. The focus remains on the UK Markit Preliminary PMIs ahead of BOE.


EUR/USD: Bulls look to test 200-DMA ahead of Eurozone PMIs

EUR/USD edges a few pips higher towards the 200-DMA located at 1.1153 ahead of the German and Eurozone Preliminary Manufacturing and Services PMI reports. Better-than-expected German PMI is needed to avoid a bearish close.


Forex Today: Caution over deal details offset better China data; Brexit optimism, PMIs to dominate

Despite both sides agreeing on the Phase One trade deal on Friday, markets traded with caution, as they remained sceptical over the details of the deal that appear murky.

Read more

Gold: Flatlined after the biggest weekly gain since September

Gold is lacking a clear directional bias in Asia, having eked out its biggest weekly gain in nearly three months. The yellow metal is currently trading at $1,474 per Oz, representing little or no change on the day.

Gold News

USD/JPY clings to modest gains, just below mid-109.00s

The USD/JPY pair edged higher on the first day of a new trading week, albeit lacked any strong follow-through and remained well within the previous session's trading range.