• NZD/USD flat on Monday, holds onto Friday’s gains.
  • US stocks slide, stay away from recent lows.
  • US data: unexpected contraction in the Empire Manufacturing.

The NZD/USD climbed to 0.6295 during the American session reaching the highest level since Thursday. The pair is rising as dollar’s strength takes a pause and amid lower US yields.

The Dow Jones is falling 0.27% but still holds to most of Friday’s rally. Volatility eased and commodity prices are rising at the beginning of the week. The US Dollar Index is flat for the day hovering around 104.50. The context offers support to the NZD/USD, however is not enough for pushing it above 0.6300.

Economic data released on Monday showed an unexpected decline in the US Empire Manufacturing Index. The numbers weigh modestly on the US Dollar. The key economic report of the week, the April’s Retail Sales is due on Tuesday.

Downtrend intact, consolidating in the very short-term

Last week, the NZD/USD bottomed at 0.6205, the lowest level in almost two years and then started a recovery that weakened near 0.6300. In the short-term, the pair is seen consolidating in a range between 0.6260 and 0.6295; and below 0.6260/0.6225 range.

The bearish trend remains intact. To open the doors to further losses the dollar needs to break under 0.6200. On the upside, a confirmed recovery above 0.6300 should point to more gains.

Technical levels

NZD/USD

Overview
Today last price 0.6296
Today Daily Change 0.0039
Today Daily Change % 0.62
Today daily open 0.6257
 
Trends
Daily SMA20 0.6502
Daily SMA50 0.6727
Daily SMA100 0.6728
Daily SMA200 0.6855
 
Levels
Previous Daily High 0.6291
Previous Daily Low 0.6218
Previous Weekly High 0.6414
Previous Weekly Low 0.6217
Previous Monthly High 0.7035
Previous Monthly Low 0.6451
Daily Fibonacci 38.2% 0.6263
Daily Fibonacci 61.8% 0.6246
Daily Pivot Point S1 0.6219
Daily Pivot Point S2 0.6182
Daily Pivot Point S3 0.6146
Daily Pivot Point R1 0.6292
Daily Pivot Point R2 0.6328
Daily Pivot Point R3 0.6365

 

 

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

EUR/USD remains in range near 1.0600 on Lagarde's speech

EUR/USD remains in range near 1.0600 on Lagarde's speech

EUR/USD is trading close to 1.0600, keeping its recent range on ECB President Christine Lagarde's remarks on Day 2 of the ECB Forum in Sintra. The US dollar struggles amid a positive shift in risk sentiment and firmer yields. US data awaited. 

EUR/USD News

GBP/USD bounces towards 1.2300 amid renewed USD selling

GBP/USD bounces towards 1.2300 amid renewed USD selling

GBP/USD is bouncing back towards 1.2300, capitalizing on the renewed selling in the US dollar across the board. The risk recovery is weighing on the dollar, despite the rebounding Treasury yields. Brexit and UK political woes remain a drag on the pound. US data eyed. 

GBP/USD News

Gold sticks to gains near $1,825, upside potential seems limited

Gold sticks to gains near $1,825, upside potential seems limited

Gold attracted some dip-buying on Tuesday and reversed a part of the overnight sharp retracement slide from the very important 200-day SMA. Gold held on to its modest gains through the early European session and was last seen trading above the $1,825 level.

Gold News

How to use the Fibonacci Retracement indicator to trade Bitcoin and Ethereum

How to use the Fibonacci Retracement indicator to trade Bitcoin and Ethereum

A brief technical and on-chain analysis on a few cryptos. FXStreet’s analysts evaluate where the hottest cryptos on the market could go next.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures