• US Dollar Index returns to 101.50 area after rebounding to 101.90.
  • Wall Street's main indexes extend recovery on Wednesday.
  • US Senate is expected to pass the coronavirus relief bill.

Boosted by the upbeat market mood, the NZD/USD pair started the day on a strong footing on Wednesday and touched its highest level in five days at 0.5911. However, the pair struggled to preserve its bullish momentum in the second half of the day and erased its daily gains. As of writing, the pair was down 0.1% at 0.5820.

DXY recovery remains short-lived

After testing the 101 handle earlier in the day, the US Dollar Index (DXY) staged a decisive recovery during the American trading hours and briefly turned positive on the day near 101.90.

The market mood soured while investors were waiting for the finalization and the details of the $2 trillion fiscal stimulus package and Wall Street's main indexes edged lower after the opening bell to allow the USD to capitalize on risk-off flows.

However, with lawmakers reassuring that the coronavirus relief bill will provide the support the economy needs by stabilizing key national industries and helping individuals during layoffs, the risk sentiment recovered in the last hour. As of writing, the Dow Jones Industrial Average and the S&P 500 was up 3.7% and 2.2%, respectively. Moreover, the US Dollar Index returned to 101.50 to help the pair limit its losses.

There won't be any macroeconomic data releases from New Zealand on Thursday and the USD's market valuation is likely to continue to drive the pair's movements.

Technical levels to watch for


Today last price 0.5821
Today Daily Change -0.0007
Today Daily Change % -0.12
Today daily open 0.5828
Daily SMA20 0.6104
Daily SMA50 0.633
Daily SMA100 0.6434
Daily SMA200 0.6448
Previous Daily High 0.584
Previous Daily Low 0.5688
Previous Weekly High 0.6151
Previous Weekly Low 0.547
Previous Monthly High 0.6504
Previous Monthly Low 0.6192
Daily Fibonacci 38.2% 0.5782
Daily Fibonacci 61.8% 0.5746
Daily Pivot Point S1 0.5731
Daily Pivot Point S2 0.5634
Daily Pivot Point S3 0.5579
Daily Pivot Point R1 0.5883
Daily Pivot Point R2 0.5937
Daily Pivot Point R3 0.6034



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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.


GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.


XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI once again breaks $40 per barrel after trading lower in early EU trade

There has been quite the bounce in WTI since the EU session after some strong selling pressure during Thursday and overnight. Once again on Friday's session, the price has taken the USD 40 per barrel handle. 

Oil News