NZD/USD moves sideways near 0.6540, eyes on Powell speech

  • NZD/USD trading range narrows in the second half of the day.
  • US Dollar Index stays calm below the 98 mark.
  • FOMC Chairman Powell and Vice Chair Clarida are scheduled to speak today.

The NZD/USD pair is fluctuating in a very tight range on Monday as the trading action in the FX space turns subdued in the absence of fundamental drivers. As of writing, the pair was up 0.25% on a daily basis at 0.6535.

Despite the modest rebound today, the pair is likely to struggle to gather bullish momentum in the near-term as investors are staying on the sidelines while waiting to see the impact of the U.S. decision to cut off Huawei supplies on the U.S.-China trade dispute. An escalation in the conflict could continue to hurt antipodeans such as the kiwi as we have witnessed in the previous week and put the pressure under a renewed bearish pressure.

Meanwhile, following last week's rally, the US Dollar Index is extending its consolidation phase below the 98 mark today, helping the pair remain in its narrow trading band. Later in the session, FOMC Vice Chair Clarida and Chairman Powell will be delivering speeches. 

The only data from the U.S. revealed that the Chicago Fed's National Activity Index dropped to -0.45 in April from 0.05 in March but was largely ignored by the participant. 

Credit card spending from New Zealand will be released in the early trading hours of the Asian session on Tuesday ahead of the GDT auction and the retail sales data on Wednesday.

Technical levels to watch for


Today last price 0.6537
Today Daily Change 0.0017
Today Daily Change % 0.26
Today daily open 0.652
Daily SMA20 0.6609
Daily SMA50 0.6722
Daily SMA100 0.6762
Daily SMA200 0.6717
Previous Daily High 0.6548
Previous Daily Low 0.6513
Previous Weekly High 0.6604
Previous Weekly Low 0.6513
Previous Monthly High 0.6838
Previous Monthly Low 0.658
Daily Fibonacci 38.2% 0.6526
Daily Fibonacci 61.8% 0.6534
Daily Pivot Point S1 0.6506
Daily Pivot Point S2 0.6492
Daily Pivot Point S3 0.6472
Daily Pivot Point R1 0.6541
Daily Pivot Point R2 0.6562
Daily Pivot Point R3 0.6576



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD consolidates losses as Fed moderates message

EUR/USD is trading above 1.1350, consolidating losses. The Fed's Bullard and Chair Powell have conveyed a balanced message, boosting the greenback. Treasury Secretary Mnuchin said 90% of the deal with China is done.


GBP/USD recovers to 1.2700 post-UK political hustings

With the UK Prime Minister (PM) frontrunner Boris Johnson’s surprising comments on chances of the no-deal Brexit at the political hustings, followed by cross-party MPs’ plan to move forward to direct the Brexit.


USD/JPY sticks to gains near 107.70, looks to snap 7-day losing streak

Following the sharp upsurge witnessed during the European trading hours, the USD/JPY pair has gone into a consolidation phase and is now moving in a relatively tight range in the upper half of its daily trading range.


Gold finds some support near $1400 mark, lacks follow-through

Gold held on to its weaker tone through the early North-American session, albeit pared a part of its intraday slide to the $1400 neighbourhood post-US economic data.

Gold News

EIA: Crude inventories decreased by 12.8 million barrels, WTI inches closer to $60

In its weekly petroleum report for the week ending June 21, the Energy Information Administration (EIA) announced that the commercial crude oil inventories in the United States decreased by 12.8 million barrels from the previous week. 

Read more