NZD/USD extends weekly slide, trades below 0.6550

  • Business NZ's PMI comes in worse than expected in May.
  • Risk-off mood weighs on antipodeans on Friday.
  • US Dollar Index clings to gains above the 97 mark.

After closing the first four days of the week in the negative territory, the NZD/USD pair continued to push lower on Friday and touched its lowest level since June 3 at 0.6528. As of writing, the pair was trading at 0.6533, losing 0.5% on a daily basis.

The ongoing protests in Hong Kong seem to be weighing on the market sentiment and hurting the demand for antipodeans such as the kiwi and the AUD, which are sensitive to political developments in Asia. Moreover, today's data from New Zealand showed that business conditions deteriorated in May with Business NZ's PMI dropping to 50.2 from 52.7 in April and missing the market expectation of 54.4.

On the other hand, the greenback seems to be taking advantage of the sour mood on Friday, lifting the US Dollar Index to a fresh weekly high of 97.20 to keep the bearish pressure on the pair intact.

In the early trading hours of the American session, retail sales, industrial production, and consumer confidence data from the U.S. will be looked upon for fresh impetus. Ahead of these data releases, the DXY is up 0.12% on the day at 97.15.

Technical levels to consider


Today last price 0.6534
Today Daily Change -0.0036
Today Daily Change % -0.55
Today daily open 0.657
Daily SMA20 0.6561
Daily SMA50 0.662
Daily SMA100 0.6725
Daily SMA200 0.671
Previous Daily High 0.6589
Previous Daily Low 0.6555
Previous Weekly High 0.6682
Previous Weekly Low 0.6528
Previous Monthly High 0.6684
Previous Monthly Low 0.6481
Daily Fibonacci 38.2% 0.6568
Daily Fibonacci 61.8% 0.6576
Daily Pivot Point S1 0.6554
Daily Pivot Point S2 0.6538
Daily Pivot Point S3 0.652
Daily Pivot Point R1 0.6587
Daily Pivot Point R2 0.6605
Daily Pivot Point R3 0.6621



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

EUR/USD trims early gains, dangerously close to 1.1200

The positive tone of the pair fades in the American afternoon as demand for the dollar resumes, despite softer-than-expected US data. All eyes on the Fed this week.


GBP/USD extends decline, pierces 1.2550

Despite moving in slow-motion, GBP/USD decline is continuous with the pair trading at levels last seen in January, amid political uncertainty weighing on Sterling.


USD/JPY remains directionless above mid-108s on Monday

The USD/JPY pair is struggling to make a decisive move in either direction on Monday as the slightly upbeat market sentiment doesn't allow the safe-haven JPY to gather strength.


Gold recovers early lost ground, back above $1240 level

Gold recovered a major part of its early slide and moved to the top end of its daily trading range, above the $1340 region post-US data.

Gold News

Gold: Signs of bullish exhaustion ahead of the Fed

Gold's rally seems to have run its course with signs of bullish exhaustion emerging on technical charts ahead of Wednesday's FOMC (Federal Open Market Committee) rate decision.

Read more