NZD/USD rises further to the 0.7250 area, still negative for the week

Kiwi among top performers on Friday on risk appetite.
NZD/USD trims weekly losses, holds above the weekly 20-SMA.

Matías Salord FXStreet

The NZD/USD rose further after the beginning of the American session and reached at 0.7251, a fresh two-day high. The pair remains supported by risk appetite and a weaker US Dollar on Friday.

US data fails to lift the greenback

The US dollar is falling across the board. The DXY drops 0.40% and trades below 90.40. Lower US yields weighed on the greenback. The 10-year yield bottomed at 1.62% before rebounding modestly to 1.64%.

Economic data in the US surprised to the downside. Retail sales stagnated in April while Consumer Confidence dropped in May unexpectedly, according to preliminary data from the University of Michigan. Following the numbers, the dollar dropped further, except versus the yen.

The Dow Jones is up by 0.83% and the Nasdaq soars 1.83%. The risk appetite is boosting the kiwi that is among the top performers on Friday.

On a weekly basis, NZD/USD is still in negative, but back above the 20 simple moving average and far from the low and closer to the weekly top. The 0.7300 area is the barrier to break for the pair to open the doors to more gains.

Technical levels

NZD/USD

Overview
Today last price	0.7239
Today Daily Change	0.0070
Today Daily Change %	0.98
Today daily open	0.7169

Trends
Daily SMA20	0.7207
Daily SMA50	0.7137
Daily SMA100	0.7171
Daily SMA200	0.6967

Levels
Previous Daily High	0.7195
Previous Daily Low	0.7134
Previous Weekly High	0.7301
Previous Weekly Low	0.7115
Previous Monthly High	0.7287
Previous Monthly Low	0.6945
Daily Fibonacci 38.2%	0.7172
Daily Fibonacci 61.8%	0.7157
Daily Pivot Point S1	0.7137
Daily Pivot Point S2	0.7105
Daily Pivot Point S3	0.7076
Daily Pivot Point R1	0.7198
Daily Pivot Point R2	0.7227
Daily Pivot Point R3	0.7259

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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