TRENDING:

GBP/USD

XAU/USD

NZD/USD looking to firm up a rise into 0.5970

The NZD/USD has recovered from daily lows, currently trading into 0.5970 after mixed US data.
US jobless claims ticked up slightly, while the trade deficit contracted, limiting US Dollar upside for Thursday.
Money markets are pricing in Fed rate cuts by mid-2024, snubbing the Fed's own dot plot.

Joshua Gibson FXStreet

The Kiwi (NZD) caught a bid against the US Dollar (USD) on Thursday, rising steadily from the day's opening bids near 0.5920. Mixed US economic data failed to revive Greenback buying in the markets, giving the NZD/USD a much-needed chance to recover some ground on the charts.

Forex Today: Dollar slides further ahead of NFP

US Initial Jobless Claims for the week ending September 30th increased to 207K, below the forecast 201K but still an increase over the previous period's 205K. Labor market conditions in the US remain tight despite the reading, and the US trade deficit again narrowed in August to $-56.3 billion, below the market forecast of $-62.3 billion, and is a three-year low for the figure.

US Treasury yields eased back on Thursday, sucking up some of the USD's broad-market bid strength, giving other major currencies a chance to find their footing. US money markets are beginning to price in the beginning of potential Federal Reserve (Fed) rate cuts in mid-2024, which runs contradictory to the Fed's own dot plot projections, and only time will tell which institution is more correct.

NZD/USD technical outlook

Despite Thursday's bump-and-run for the Kiwi, the NZD/USD remains notably bearish in the medium-term, with the pair pinging into the 100-day Simple Moving Average (SMA) and the 200-day SMA turning bearish from 0.6175, providing a technical resistance ceiling for the pair.

The NZD/USD has mostly consolidated since mid-August when the pair finished a backslide from the year's last swing high into 0.6414, and the Kiwi has plenty of ground to cover if it's going to stage a meaningful bullish push back to the year's highs.

The pair marked in a low for 2023 of 0.5847 back in September, and a resurgence of US Dollar bidding across the broader marketscape will see the NZD/USD tumbling back into the year's lows.

NZD/USD daily chart

NZD/USD technical levels

NZD/USD

Overview
Today last price	0.5968
Today Daily Change	0.0054
Today Daily Change %	0.91
Today daily open	0.5914

Trends
Daily SMA20	0.5927
Daily SMA50	0.5971
Daily SMA100	0.607
Daily SMA200	0.6173

Levels
Previous Daily High	0.5926
Previous Daily Low	0.587
Previous Weekly High	0.605
Previous Weekly Low	0.5899
Previous Monthly High	0.605
Previous Monthly Low	0.5847
Daily Fibonacci 38.2%	0.5905
Daily Fibonacci 61.8%	0.5891
Daily Pivot Point S1	0.5881
Daily Pivot Point S2	0.5847
Daily Pivot Point S3	0.5825
Daily Pivot Point R1	0.5937
Daily Pivot Point R2	0.5959
Daily Pivot Point R3	0.5993

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD bounces toward 1.1750 as US Dollar loses strength

EUR/USD returned to the 1.1750 price zone in the American session on Friday, despite falling Wall Street, which indicates risk aversion. Trading conditions remain thin following the New Year holiday and ahead of the weekend, with the focus shifting to US employment and European data scheduled for next week.

GBP/USD nears 1.3500, holds within familiar levels

After testing 1.3400 on the last day of 2025, GBP/USD managed to stage a rebound. Nevertheless, the pair finds it difficult to gather momentum and trades with modest intraday gains at around 1.3490 as market participants remain in holiday mood.

Gold trims intraday gains, approaches $4,300

Gold retreated sharply from the $4,400 area and trades flat for the day in the $4,320 price zone. Choppy trading conditions exacerbated the intraday decline, although XAU/USD bearish case is out of the picture, considering growing expectations for a dovish Fed and persistent geopolitical tensions.

Cardano gains early New Year momentum, bulls target falling wedge breakout

Cardano kicks off the New Year on a positive note and is extending gains, trading above $0.36 at the time of writing on Friday. Improving on-chain and derivatives data point to growing bullish interest, while the technical outlook keeps an upside breakout in focus.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).