NZD/USD Price Analysis: Drops further below 0.6000 on Chinese statistics

NZD/USD refreshes intraday low after China Retail Sales drop below expectations.
Thursday’s low on the bears’ radar, a confluence of 100-HMA, weekly resistance line guards recovery moves.

Anil Panchal FXStreet

NZD/USD drops the intraday low of 0.5987, down 0.27% on a day, after China’s Retail Sales disappointed Kiwi traders on early Friday.

China’s Retail Sales slipped below -7.0% forecast to -7.5% whereas Industrial Production grew more than 1.5% expected to 3.9% in April.

Read: China’s April data dump: Mixed Retail Sales and Industrial Production numbers – Aussie revisits lows

The pair currently aims to revisit the weekly low surrounding 0.5955 during the further declines. However, a descending trend line from May 12, close to 0.5930, followed by April 23 low near 0.5910, can lure the bears afterward.

On the contrary, a confluence of 100-HMA and a falling trend line from May 11 keeps the pair’s immediate upside guarded around 0.6045/50.

Should buyers manage to cross 0.6050, May 12 high near 0.6123 can return to the charts.

NZD/USD hourly chart

Trend: Bearish

Additional important levels

Overview
Today last price	0.5994
Today Daily Change	-10 pips
Today Daily Change %	-0.17%
Today daily open	0.6004

Trends
Daily SMA20	0.6046
Daily SMA50	0.6014
Daily SMA100	0.6258
Daily SMA200	0.6333

Levels
Previous Daily High	0.6005
Previous Daily Low	0.5957
Previous Weekly High	0.6148
Previous Weekly Low	0.5994
Previous Monthly High	0.6176
Previous Monthly Low	0.5843
Daily Fibonacci 38.2%	0.5987
Daily Fibonacci 61.8%	0.5975
Daily Pivot Point S1	0.5972
Daily Pivot Point S2	0.5941
Daily Pivot Point S3	0.5924
Daily Pivot Point R1	0.602
Daily Pivot Point R2	0.6037
Daily Pivot Point R3	0.6068

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD risks a deeper drop below 1.1750

EUR/USD keeps its vacillating mood in place as the the NA session drwas to a close on Tuesday, hovering below the 1.1800 hurdle amid acceptable gains in the US Dollar. In the meantime, market participants and the FX galaxy are expected to closely follow President Trump’s SOTU speech around 2AM GMT.

GBP/USD regains 1.3500 and above

GBP/USD extends its advance for the third day in a row on Tuesday, this time retesting the area beyond the 1.3500 hurdle. Cable’s uptick comes despite decent gains in the Greenback and the dovish message from the BoE’s Bailey at the UK Parliament.

Gold appears offered around $5,150

Gold is giving back a good portion of the recent multi-day rally, receding to the $5,150 zone per troy ounce amid the decent bounce in the US Dollar and mixed US Treasuty yields. In the meantime, markets’ attention remain on upcoming comments from Fed speakers.

Coinbase launches stocks and ETF trading amid ongoing plans for all-in-one platform

Coinbase has launched stocks and ETF trading for US customers on its platform, according to an X post on Tuesday. The service offers commission-free trading available 24 hours a day, five days a week, for eligible securities. Traders deposit US dollars or USDC to fund positions and access fractional shares as low as $1.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.