NZD/USD is on the downside – UOB Group

FXStreet Insights Team FXStreet

The risk for New Zealand Dollar (NZD) is on the downside vs US Dollar (USD), but any decline is likely part of a lower range of 0.5835/0.5900. In the longer run, the chance for NZD reaching 0.5835 has increased; the next level to watch is 0.5800, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Chance for NZD reaching 0.5835 has increased

24-HOUR VIEW: "Despite dropping sharply to 0.5847 yesterday, downward momentum has not increased significantly. However, the risk for NZD is on the downside, but any further decline is likely part of a lower range of 0.5835/0.5900. In other words, NZD is unlikely to break clearly below 0.5835."

1-3 WEEKS VIEW: "The following are the excerpts from our update last Friday (009 May, spot at 0.5900): 'There has been a slight increase in momentum, indicating the bias for NZD is tilted to the downside toward 0.5870, potentially reaching 0.5835. The downward bias will remain intact provided that the ‘strong resistance’ level, currently at 0.5960, is not breached.' Yesterday, Monday, NZD fell to 0.5847. Although downward momentum has not increased much further, the chance of NZD reaching 0.5835 has increased. The next level to watch is 0.5800. On the upside, a breach of 0.5940 (‘strong resistance’ level previously at 0.5960) would mean that NZD is not declining further."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

Japanese Yen edges up but remains close to the 160.00 intervention threshold

The Japanese Yen edges up against the US Dollar on Friday, but the USD/JPY pair remains above 159.90 at the time of writing, unable to put a significant distance from the 160.00 level, considered the limit of tolerable JPY weakness for Japanese authorities.

Gold returns to the red, awaits US NFP

Gold price is looking to test the weekly lows, while in the red near $4,450 in the early European session on Friday. The precious metal remains vulnerable amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday.

Indian Rupee jumps as RBI holds, but unveils measures to boost foreign inflows

The Reserve Bank of India held the Repo Rate at 5.25%, as widely expected, on Friday. But the central bank unveiled various measures to boost foreign inflows into the economy, lifting the Indian Rupee against the US Dollar.

Top 3 Price Prediction: Bitcoin eyes $60,000, Ethereum risks $1,750, XRP could test $1

Bitcoin, Ethereum, and Ripple prices edge lower on Friday, extending a steady decline of roughly 15% so far this week. Institutional outflows weigh on Bitcoin and Ethereum while XRP largely follows the broader market trend.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.