NZD/USD gives away gains and seeks support at 0.6400

  • NZD/USD pulls back from 0.6450 area and seeks support at 0.6400.
  • The kiwi loses ground with the USD bouncing up following upbeat US data.
  • Better than expected Chinese data had buoyed NZD’s demand during Asian and European trading.

The New Zealand dollar has reversed earlier gains on Monday, pulling back from 0.6440 highs to test support area at 0.6400. The kiwi has lost ground after a strong opening, with the US dollar appreciating across the board following better than expected US data.


Kiwi pulls lower as the US dollar rebounds

The NZD/USD has lost traction during the North American trading session with the greenback bouncing up after better than expected US data. Pending home sales have increased 44.3% in May following a 21.8% decline in April, beating expectations of a 19.7% increase. Beyond that, the Dallas Fed Manufacturing Index has improved to a level of -6.1 from 49.2 in the previous month.

Previously, the kiwi had appreciated on the back of the positive surprise of Chinese industrial profits, which showed a 6% increase in May, boosting hopes of a post-pandemic recovery, easing fears of a second coronavirus wave.


NZD/USD Approaching an important support level at 0.6380

From the technical point of view, a break below session lows at 0.6400 would expose 4-week lows at 0.6380 (June 15, 21 lows) before the 200-day SMA, at 0.6315. On the upside, immediate resistance lies at 0.6450 (session highs) and above here, 0.6530 (Jun 23 high) before 0.6585 (June 11 high).


NZD/USD key levels to watch


Today last price 0.6414
Today Daily Change -0.0008
Today Daily Change % -0.12
Today daily open 0.6422
Daily SMA20 0.6449
Daily SMA50 0.6223
Daily SMA100 0.6177
Daily SMA200 0.6325
Previous Daily High 0.6451
Previous Daily Low 0.6402
Previous Weekly High 0.6534
Previous Weekly Low 0.6383
Previous Monthly High 0.6241
Previous Monthly Low 0.5921
Daily Fibonacci 38.2% 0.6421
Daily Fibonacci 61.8% 0.6432
Daily Pivot Point S1 0.6399
Daily Pivot Point S2 0.6376
Daily Pivot Point S3 0.635
Daily Pivot Point R1 0.6448
Daily Pivot Point R2 0.6474
Daily Pivot Point R3 0.6497




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