NZD/USD declines below 0.5800 amid the latest risk reset

  • NZD/USD extends pullback from the one-week high.
  • Doubts concerning the US aid package, coronavirus updates seem to renew the risk-off.
  • The US Senate voting on the COVID-19 Bill, Jobless Claims will be important.

NZD/USD drops to 0.5790, currently around 0.5805, following its pullback from the weekly high during the Asian session on Thursday. The kiwi pair failed to cheer the US COVID-19 Bill for longer as the policymakers jostle over the details and the execution. Also, likely weighing on the pair could be the latest coronavirus (COVID-19) updates that signal fears emanating from the UK and Tokyo.

Despite agreeing over the $2.2 trillion packages to combat the deadly virus, the US Senators witness differences as far as the execution of the aid bundle is concerned, as signalled by Fox News. As a result, the policymakers are soon expected to vote on the amendment concerning the unemployment insurance provisions in the coronavirus relief package.

On the other hand, the big jump in the coronavirus numbers from the UK and looming fears of the Tokyo lockdown weigh on the risk-tone. Also adding to the skepticism could be US President Donald Trump’s worries concerning New York City due to the pandemic.

Recently, the Governor of Colorado ordered a state-wide stay-at-home order and magnified the risk-off.

That said, the US 10-year treasury yields step back from earlier recoveries while declining three basis points (bps) to 0.83% whereas the US stock futures also fail to replicate Wall Street’s gains.

Apart from the voting on the US COVID-19 bill, the US Jobless Claims is likely to grab a major attention today as the figure is expected to surge, to 1000K from 281K prior, due to the pandemic. Also important will be the coronavirus updates from the rest of the globe as well as the final reading of the US fourth quarter (Q4) GDP growth, expected to remain unchanged at 2.1%.

Technical analysis

10-day SMA near 0.5840 offers the immediate upside barrier to the pair while sellers will wait for entry below 0.5730.

Additional important levels

Today last price 0.5801
Today Daily Change -27 pips
Today Daily Change % -0.46%
Today daily open 0.5828
Daily SMA20 0.6104
Daily SMA50 0.633
Daily SMA100 0.6434
Daily SMA200 0.6448
Previous Daily High 0.584
Previous Daily Low 0.5688
Previous Weekly High 0.6151
Previous Weekly Low 0.547
Previous Monthly High 0.6504
Previous Monthly Low 0.6192
Daily Fibonacci 38.2% 0.5782
Daily Fibonacci 61.8% 0.5746
Daily Pivot Point S1 0.5731
Daily Pivot Point S2 0.5634
Daily Pivot Point S3 0.5579
Daily Pivot Point R1 0.5883
Daily Pivot Point R2 0.5937
Daily Pivot Point R3 0.6034



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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.


GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.


XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI once again breaks $40 per barrel after trading lower in early EU trade

There has been quite the bounce in WTI since the EU session after some strong selling pressure during Thursday and overnight. Once again on Friday's session, the price has taken the USD 40 per barrel handle. 

Oil News