NZD/USD moves sideways near mid-0.65s in choppy trading day


  • Empty economic calendar paves the way for subdued trading action.
  • Memorial Day holiday in the U.S. keeps volume down.
  • RBNZ to publish Financial Stability Report later this week.

The NZD/USD pair closed the previous week with small gains and started the new week in a calm manner and has been moving sideways in a tight 20-pip range since. As of writing, the pair was virtually unchanged on a daily basis at 0.6548.

The U.S. markets will be closed due to Memorial Day holiday and it also suggests that President Trump is unlikely to tweet about the trade conflict with China. The lack of macroeconomic data releases and political developments in the second half of the day is likely to force the pair to continue to move sideways. While speaking to reporters during his visit to Japan, President Trump said that he thought that the would have a deal with China sometime in the future but added that they were not ready to do it yet.

Later this week, the Reserve Bank of New Zealand will be releasing its Financial Stability Report and Governor Orr will be delivering his remarks on the report. On the other hand, the S&P/Case-Shiller House Price Index and the Consumer Board Consumer Confidence Survey will be featured in the U.S. economic docket on Tuesday.

Technical levels to consider

NZD/USD

Overview
Today last price 0.6546
Today Daily Change -0.0008
Today Daily Change % -0.12
Today daily open 0.6554
 
Trends
Daily SMA20 0.6579
Daily SMA50 0.6691
Daily SMA100 0.6753
Daily SMA200 0.6715
Levels
Previous Daily High 0.6557
Previous Daily Low 0.6512
Previous Weekly High 0.6557
Previous Weekly Low 0.6481
Previous Monthly High 0.6838
Previous Monthly Low 0.658
Daily Fibonacci 38.2% 0.654
Daily Fibonacci 61.8% 0.6529
Daily Pivot Point S1 0.6525
Daily Pivot Point S2 0.6496
Daily Pivot Point S3 0.648
Daily Pivot Point R1 0.657
Daily Pivot Point R2 0.6586
Daily Pivot Point R3 0.6615

 

 

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