NZD/USD could advance to the 0.7080 region – UOB

Pablo Piovano FXStreet

The up move in the pair could extend further and test the 0.7080 region in the near term, according to FX Strategists at UOB Group.

Key Quotes

24-hour view: “Against our expectation, NZD did not break the major 0.7050 level as it slipped to a low of 0.6997 before rebounding. We continue to see chance for a move above 0.7050 but in view of the weakened momentum, a sustained up-move seems unlikely (the next resistance at 0.7080 is not expected to come into the picture). The low near 0.6995/00 is acting as a solid support now”.

Next 1-3 weeks: “We have held the same view since last Thursday (31 May, spot at 0.6970) that the recovery in NZD “has room to extend to 0.7050”. NZD hit an overnight high of 0.7048 before easing off slightly. The improved undertone suggests that the current rebound could ‘overshoot’ to 0.7080 but at this stage, it is unclear whether NZD can maintain a foothold above this level. On the downside, only a break below 0.6980 (‘key support’ previously at 0.6940) would indicate that the current upward pressure has eased”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

AUD/USD bounces back toward 0.6950 on fresh USD supply

AUD/USD bounces back toward 0.6950 in the Asian session on Friday. The US Dollar retreats from 17-month highs as traders take profits off the table ahead of the all-important US Nonfarm Payrolls report. Meanwhile, the Australian Dollar draws support from reviving expectations of a November interest rate hike amid elevated global yields and inflation risks.

USD/JPY struggles near 158.00 as USD retreats ahead of NFP

USD/JPY is struggling for fresh impetus near 158.00, moving away from the top end of its weekly range in the Asian session on Friday, after hotter-than-expected Tokyo CPI and amid a broad US Dollar retreat. Traders reposition themselves ahead of US Nonfarm Payrolls.

Gold fades the earlier optimism; back below $4,200

Gold could not sustain the post-NFP bull run past the $4,200 mark per troy ounce, receding toward the $4,180 region at the end of the week. The precious metal’s inconclusive price action comes amid fresh selling pressure hurting the US Dollar as investors assess the latest NFP data.

Crypto Today: Bitcoin, Ethereum and XRP gains reinforce bullish outlook

Cryptocurrency prices are broadly recovering on Friday, led by Bitcoin moving above $86,000. Ethereum has reaffirmed its bullish outlook, rising above $2,700 while the immediate area at $2,800 caps upside. Meanwhile, Ripple hovers near $1.54.

Week ahead – Fed minutes in the spotlight amid bond market rout

Energy crisis and soaring bond yields to stay in driver’s seat in quiet week. Fed minutes eyed after drop in October rate hike bets. ISM services PMI and Treasury auctions to be watched too. Canadian employment, Japanese wages and ECB minutes also on tap.

The Euro is near a one-year low: Inflation could trigger its rebound, not its fall

EUR/USD has fallen to its lowest level since May 2025. The pair hit 1.1312 on Wednesday and trades well below the January peak of 1.2082. The decline reflects a powerful combination of US Dollar strength, geopolitical uncertainty and renewed concerns about Europe's exposure to higher energy prices.