• 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


Today last price 0.6296
Today Daily Change 0.0039
Today Daily Change % 0.62
Today daily open 0.6257
Daily SMA20 0.6502
Daily SMA50 0.6727
Daily SMA100 0.6728
Daily SMA200 0.6855
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



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