NZD/USD jumps above 0.6700 to highest since December 2019 as kiwi outperforms

NZD/USD ups for the fourth day in a row, accelerates upside.
DXY tumbles toward 2020 lows, while NZD rises across the board.

Matías Salord FXStreet

The NZD/USD rose further during the American session and climbed to 0.6733, reaching the highest intraday level since December of last year. It remains near the highs, holding onto weekly gains. The Kiwi is among the top performers across the board on Friday and over the week.

The rally of the New Zealand dollar gained momentum after Powell’s remarks on Thursday and on Friday it climbed even further, supported by a stronger NZD and by technical factors.

While the DXY falls 0.70%, approaching to recent lows the kiwi is outperforming, being the biggest gainer of the week. NZD/USD is having the best weekly result since May and the highest close in more than a year.

Levels to watch

The consolidation around current levels points to further gains in NZD/USD. The next stronger resistance is located at 0.6785/90 (July 2019 high). On the flip side, now 0.6690 is the immediate support. A slide under 0.6640 would negate the current bullish bias.

NZD/USD

Overview
Today last price	0.6727
Today Daily Change	0.0088
Today Daily Change %	1.33
Today daily open	0.6639

Trends
Daily SMA20	0.6588
Daily SMA50	0.6564
Daily SMA100	0.637
Daily SMA200	0.6376

Levels
Previous Daily High	0.6675
Previous Daily Low	0.66
Previous Weekly High	0.6652
Previous Weekly Low	0.6488
Previous Monthly High	0.6716
Previous Monthly Low	0.644
Daily Fibonacci 38.2%	0.6647
Daily Fibonacci 61.8%	0.6629
Daily Pivot Point S1	0.6601
Daily Pivot Point S2	0.6563
Daily Pivot Point S3	0.6526
Daily Pivot Point R1	0.6676
Daily Pivot Point R2	0.6713
Daily Pivot Point R3	0.6752

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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