NZD/USD extends daily slide, trades below 0.6550

NZD/USD continues to push lower in early American session.
US Dollar Index rose to a fresh two-month high above 94.70.
Durable Goods Orders in US increased at a softer pace than expected in August.

Eren Sengezer FXStreet

The NZD/USD pair met a fresh bearish wave in the early American session and dropped to a daily low of 0.6528. As of writing, the pair was down 0.1% on a daily basis at 0.6543.

DXY extends rally into the weekend

The data published by the US Census Bureau showed on Friday that Durable Goods Orders in August rose by 0.4% and missed the market expectation for an increase of 1.5%.

Commenting on the underlying details of the report, “nondefense capex shipments jumped 3.3% in August," said Wells Fargo analysts. "Through the first two months of Q3, the series is up at a 33% annualized rate and signals equipment spending will be a key contributor to the third quarter’s bounce back in GDP.”

Nevertheless, the US Dollar Index (DXY) largely ignored this data and preserved its bullish momentum to touch its highest level in two months at 94.74. At the moment, the DXY is up 0.35% on the day at 94.66.

Meanwhile, Wall Street's main indexes turned green after starting the day in the negative territory and helped risk-sensitive kiwi show some resilience against the USD.

There won't be any other macroeconomic data releases in the remainder of the day and the USD's market valuation is likely to continue to impact NZD/USD's movements.

Technical levels to watch for

NZD/USD

Overview
Today last price	0.6545
Today Daily Change	0.0004
Today Daily Change %	0.06
Today daily open	0.6541

Trends
Daily SMA20	0.6692
Daily SMA50	0.664
Daily SMA100	0.65
Daily SMA200	0.6394

Levels
Previous Daily High	0.6576
Previous Daily Low	0.6511
Previous Weekly High	0.6799
Previous Weekly Low	0.6661
Previous Monthly High	0.6764
Previous Monthly Low	0.6488
Daily Fibonacci 38.2%	0.6536
Daily Fibonacci 61.8%	0.6551
Daily Pivot Point S1	0.6509
Daily Pivot Point S2	0.6477
Daily Pivot Point S3	0.6444
Daily Pivot Point R1	0.6575
Daily Pivot Point R2	0.6608
Daily Pivot Point R3	0.664

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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