NZD/USD slides to near 2-week lows, closer to mid-0.6500s

  • US-China trade tensions continue to weigh on perceived riskier currencies.
  • A modest USD rebound adds to the selling bias for the fourth straight day.
  • The latest disappointment from the US data does little to lend any support.

The NZD/USD pair held on the defensive through the early North-American session and dropped to near two-week lows, around the 0.6560 region in the last hour.

The pair failed to capitalize on its early uptick to an intraday high level of 0.6588 and turned lower for the fourth consecutive session, extending the recent pullback from over one-month tops touched in reaction to last Friday's weaker US monthly jobs report.

Persistent worries over a further escalation in trade tensions between the world's two largest economies continued weighing on investors' sentiment and turned out to be one of the key factors denting demand for perceived riskier currencies - like the Kiwi. 

Adding to this, the US Dollar has managed to recover from near two-month lows set in the previous session, despite firming market expectations that the Fed will ease monetary policy in the coming months, and further collaborated to the pair's offered tone.

Meanwhile, the latest US economic data - initial weekly jobless claims and import price index, added to the recent slew of disappointing macro data, albeit did little to provide any meaningful impetus or lend any support to the major amid the prevalent cautions mood.

From a technical perspective, a follow-through weakness below the 0.6550 immediate horizontal support might trigger some fresh technical selling and turn the pair vulnerable to head back towards challenging the key 0.6500 psychological mark.

Technical levels to watch


Today last price 0.6557
Today Daily Change -0.0017
Today Daily Change % -0.26
Today daily open 0.6574
Daily SMA20 0.656
Daily SMA50 0.6623
Daily SMA100 0.6727
Daily SMA200 0.671
Previous Daily High 0.6594
Previous Daily Low 0.6566
Previous Weekly High 0.6682
Previous Weekly Low 0.6528
Previous Monthly High 0.6684
Previous Monthly Low 0.6481
Daily Fibonacci 38.2% 0.6577
Daily Fibonacci 61.8% 0.6583
Daily Pivot Point S1 0.6562
Daily Pivot Point S2 0.655
Daily Pivot Point S3 0.6534
Daily Pivot Point R1 0.659
Daily Pivot Point R2 0.6606
Daily Pivot Point R3 0.6618



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 pressured around 1.1200 amid dovish ECB comments

EUR/USD is trading around 1.1200 after ECB officials expressed concern about global growth President Draghi will speak later. Tension is rising toward the Fed decision after US retail sales surprised on Friday.


GBP/USD pressured below 1.2600, Conservative contest in focus

GBP/USD is trading below 1.2600, consolidating the losses seen on Friday after US retail sales beat expectations. The Conservative contest is heating up ahead of tomorrow's second vote.


USD/JPY: wait-and-see continues ahead of Fed

The dollar consolidates its gains against most rival, and scarce data exacerbates the quietness. USD/JPY bullish above 108.90, bearish below 108.10.


Gold: 100-month MA is a level to beat for the bulls

Gold (XAU/USD) is struggling to cut through key technical line which proved a tough nut to crack in 2018. The yellow metal rose to $1,358 on Friday, but the break above the 100-month MA.

Gold News

Gold: Signs of bullish exhaustion ahead of the Fed

Gold's rally seems to have run its course with signs of bullish exhaustion emerging on technical charts ahead of Wednesday's FOMC (Federal Open Market Committee) rate decision.

Read more