NZD/USD hits highest level since mid-April above 0.6750


  • NZD/USD rally supported by weaker US Dollar and technicals. 
  • Kiwi ends intraday-range making another leg higher, to the highest in three months. 

The NZD/USD pair moved between 0.6745 and 0.6725 for hours until it broke to the upside during the American session. The pair climbed to 0.6753, hitting the strongest since April. As of writing was trading near the top, holding a bullish tone. 

Yesterday the kiwi was the top performer of the G10 and today is among the top three. The positive tone remains in place even despite the decline in equity prices across the globe. A decline of the US dollar continues to be a key driver. 

Data from the US today showed a larger-than-expected increase in the Philly Fed but the greenback remained weak. US yield rose modestly; the 10-year stands at 2.06%, near the weekly low. In Wall Street, the DOW JONES is down 0.53% and the NASDAQ losses 0.59%. The risk aversion could limit the upside in NZD/USD.

NZD/USD Levels 

To the upside resistance could be seen at 0.6785 (Apr 15 high), followed by 0.6800 and 0.6825. On the flip side, short-term support levels might now be located at 0.6745 (previous resistance), 0.6725 and 0.6695. 

NZD/USD

Overview
Today last price 0.6753
Today Daily Change 0.0021
Today Daily Change % 0.31
Today daily open 0.6732
 
Trends
Daily SMA20 0.6664
Daily SMA50 0.66
Daily SMA100 0.6677
Daily SMA200 0.6719
Levels
Previous Daily High 0.6747
Previous Daily Low 0.6697
Previous Weekly High 0.6699
Previous Weekly Low 0.6567
Previous Monthly High 0.6722
Previous Monthly Low 0.6487
Daily Fibonacci 38.2% 0.6728
Daily Fibonacci 61.8% 0.6716
Daily Pivot Point S1 0.6703
Daily Pivot Point S2 0.6675
Daily Pivot Point S3 0.6653
Daily Pivot Point R1 0.6753
Daily Pivot Point R2 0.6775
Daily Pivot Point R3 0.6803

 

 

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