NZD/USD rallies to session tops, 0.6600 mark back on sight


   •  Signs of stability in the global financial markets extend some support.
   •  A modest USD pullback prompted some intraday short-covering move.
   •  Traders now eye second-tier US economic releases for fresh impetus.

The NZD/USD pair reversed an early dip to one-week lows and rallied around 40-pips, hitting fresh session tops during the early European session.

With investors still digesting the recent escalation in the US-China trade tensions, some signs of stability in global financial markets extended some support/helped ease the bearish pressure surrounding perceived riskier currencies - like the Kiwi.

This coupled with a modest US Dollar pullback, led by persistent weakness in the US Treasury bond yields might have acted as another factor prompting some aggressive intraday short-covering move and behind the latest leg of an upsurge. 

It, however, remains to be seen if the uptick is backed by any genuine buying or is still seen as a selling opportunity at higher levels as the market focus remains on any fresh trade-related headlines, which remains a sole driver of the broader market risk sentiment.

Later during the early North-American session, the US economic docket - featuring the release of housing market data, the usual initial weekly jobless claims and Philly Fed Manufacturing Index, will now be looked upon for some short-term trading impetus.

Technical levels to watch

NZD/USD

Overview
Today last price 0.658
Today Daily Change 0.0017
Today Daily Change % 0.26
Today daily open 0.6563
 
Trends
Daily SMA20 0.6624
Daily SMA50 0.6732
Daily SMA100 0.6765
Daily SMA200 0.6717
Levels
Previous Daily High 0.6579
Previous Daily Low 0.655
Previous Weekly High 0.6632
Previous Weekly Low 0.6526
Previous Monthly High 0.6838
Previous Monthly Low 0.658
Daily Fibonacci 38.2% 0.6561
Daily Fibonacci 61.8% 0.6568
Daily Pivot Point S1 0.6549
Daily Pivot Point S2 0.6535
Daily Pivot Point S3 0.652
Daily Pivot Point R1 0.6578
Daily Pivot Point R2 0.6593
Daily Pivot Point R3 0.6607

 

 

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: On the defensive after rejection at key trendline hurdle

EUR/USD's repeated failure to scale a rising trendline hurdle may end up enticing sellers, leading to a drop to 1.12. The trendline connecting May 30 and June 18 lows was breached on July 6. 

EUR/USD News

GBP/USD recovers to 1.2520 amid political optimism, soft-Brexit concerns

Having witnessed a slump on the previous day, the GBP/USD pair recovers to 1.2520 amid initial Asian morning on Tuesday. PM hopeful Johnson holds October 31 deadline tightly.

GBP/USD News

USD/JPY holds tight in quiet markets following a propped up stocks on Wall Street

As Japan comes back into the mix, USD/JPY is currently trading at 107.89, in a tight 107.82/96 range in Asia, following a subdued performance in the pair from overnight.

USD/JPY News

Gold & Silver: Dollar inched higher, capping bulls progress

The Dollar is out of favour but still holds in there, capping progress in the precious metals, hell-bent on higher grounds. The series of bearish gold pin bars on the daily charts do not bode well for the bulls.

Gold News

UK employment change preview: stable but no recovery

The employment change for May is expected to be 45,000 in May following Aprils 32,000 gain. The International Labour Organization (ILO) unemployment rate for May is predicted to be stable at 3.8%.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •