NZD/USD drops further below 0.6200, to four-week lows

US Dollar remains strong, DXY gains 0.45%.
US Empire Manufacturing jumps in March.
NZD/USD breaks previous lows, looks at the 200-day SMA.

Matías Salord FXStreet

The NZD/USD is falling for the second day in a row and printed fresh lows after the release of US data, hitting at 0.6175, the lowest in four weeks. The US Dollar gained momentum across the board and resumed the upside.

Dollar adds to gains after US data

Data released on Monday showed an unexpected rebound from -24.60 to 10.8, against expectations of -18.0. The numbers boosted further the US Dollar while the Kiwi is lagging again.

Earlier on Monday, data from New Zealand showed a 0.8% increase in the Food Price Index during March and a modest decline in the Business NZ PSI in March to 54.4 from 55.8. The key report this week in New Zealand will be Q1 inflation early on Thursday.

NZD/USD is trading at 0.6175, at the lowest level since March 22. The pair is holding below previous April lows, looking vulnerable, near the 200-day Simple Moving Average that stands at 0.6160.

Technical levels

NZD/USD

Overview
Today last price	0.6184
Today Daily Change	-0.0021
Today Daily Change %	-0.34
Today daily open	0.6205

Trends
Daily SMA20	0.6245
Daily SMA50	0.6237
Daily SMA100	0.6303
Daily SMA200	0.6161

Levels
Previous Daily High	0.6315
Previous Daily Low	0.6195
Previous Weekly High	0.6316
Previous Weekly Low	0.6169
Previous Monthly High	0.6298
Previous Monthly Low	0.6084
Daily Fibonacci 38.2%	0.6241
Daily Fibonacci 61.8%	0.6269
Daily Pivot Point S1	0.6162
Daily Pivot Point S2	0.6118
Daily Pivot Point S3	0.6042
Daily Pivot Point R1	0.6282
Daily Pivot Point R2	0.6358
Daily Pivot Point R3	0.6402

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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