NZD/USD heading lower in early Thursday action, ticking into 0.6880

Kiwi faltering further, down into weekly lows as risk aversion remains taut.
It's been a quiet week for the NZD on the economic calendar, leaving the Kiwi exposed to sentiment flows.

Joshua Gibson FXStreet

NZD/USD is trading into 0.6880 as risk appetite continues to take a header as risk appetite retreats further in Thursday's early Asian market session, fueled by an unexpected contraction in Australia's Trade Balance.

The Antipodeans are continuing to spiral downwards for Thursday after Australia's Trade Balance clocked in a $600 million decline in their balance of trade, though the headline figure is getting skewed more by a surge in Exports, which grew by 3%, while Imports remained steady at 1%, but the red readings were enough to send the Pacific trading window onto the back foot, and the Kiwi is following suite with its closest neighbor, slipping back into last week's highs after falling away from this week's peak at 0.6970.

The NZD/USD pair is now trading into the 50-period moving average on 4-Hour candles, a confluence support level with mid-November's swing high of 0.6885.

NZD/USD Technical Levels

NZD/USD

Overview:
    Today Last Price: 0.6884
    Today Daily change: -10 pips
    Today Daily change %: -0.145%
    Today Daily Open: 0.6894
Trends:
    Previous Daily SMA20: 0.6823
    Previous Daily SMA50: 0.6665
    Previous Daily SMA100: 0.6665
    Previous Daily SMA200: 0.6861
Levels:
    Previous Daily High: 0.6945
    Previous Daily Low: 0.6889
    Previous Weekly High: 0.6887
    Previous Weekly Low: 0.6753
    Previous Monthly High: 0.6887
    Previous Monthly Low: 0.6514
    Previous Daily Fibonacci 38.2%: 0.6911
    Previous Daily Fibonacci 61.8%: 0.6924
    Previous Daily Pivot Point S1: 0.6874
    Previous Daily Pivot Point S2: 0.6854
    Previous Daily Pivot Point S3: 0.6819
    Previous Daily Pivot Point R1: 0.693
    Previous Daily Pivot Point R2: 0.6965
    Previous Daily Pivot Point R3: 0.6985

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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