NZD/USD stays in lower half of weekly range below 0.6450

  • Business NZ PMI data from New Zealand disappoints.
  • US Dollar Index rises for the fourth straight day on Friday.
  • Housing Starts, Building Permits, and the UoM Consumer Confidence data from US coming up next.

The NZD/USD pair struggled to make a decisive recovery throughout the week and came under renewed selling pressure during the Asian session on Friday following the uninspiring Purchasing Managers Index (PMI) data from New Zealand. As of writing, the pair, which touched a daily low of 0.6426, was trading at 0.6435, losing 0.2% on a daily basis.

Manufacturing sector weakens in NZ

The data published by Business NZ came in at 48.2 in July to miss the market expectation of 51.8 and showed contraction in the business activity in the manufacturing sector.

Assessing the details of the report, "The employment measure fell by 4.6 points, the lowest levels since Aug 2016 and the new orders measure and the finished stocks measure fell by 3.5 points and 4.1 points respectively. Deliveries inched up 0.3%,” noted TD Securities analysts.

Meanwhile, the fact that the Greenback is preserving its recovery momentum this week makes it difficult for the pair to reverse its direction. Ahead of the University of Michigan's Consumer Confidence report and July Building Permits and Housing Starts data from the US, the US Dollar Index, which tracks the USD's value against a basket of six major currencies, is up 0.13% on the day and remains on track to post a weekly gain of more than 1%. 

Technical levels to watch for


Today last price 0.6432
Today Daily Change -0.0016
Today Daily Change % -0.25
Today daily open 0.6448
Daily SMA20 0.6568
Daily SMA50 0.6609
Daily SMA100 0.6624
Daily SMA200 0.6718
Previous Daily High 0.646
Previous Daily Low 0.6427
Previous Weekly High 0.659
Previous Weekly Low 0.6378
Previous Monthly High 0.6792
Previous Monthly Low 0.6543
Daily Fibonacci 38.2% 0.6447
Daily Fibonacci 61.8% 0.644
Daily Pivot Point S1 0.643
Daily Pivot Point S2 0.6412
Daily Pivot Point S3 0.6397
Daily Pivot Point R1 0.6463
Daily Pivot Point R2 0.6478
Daily Pivot Point R3 0.6496



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 falls off the highs amid trade wars, weak German figures

EUR/USD is falling toward 1.1100. The German IFO Business Climate dropped to 94.3 points, below expectations. Markets are concerned by the intensifying US-Sino trade wars.


GBP/USD consolidates amid Brexit uncertainty

GBP/USD is trading below 1.2300, consolidating its gains. The UK and the EU have been blaming each other for a potential no-deal Brexit. US-Sino tensions are in play as well.


USD/JPY recovers farther from multi-year lows on Trump’s positive trade-related comments

The incoming positive trade-related comments dented the JPY’s safe-haven demand. Improving global risk sentiment helped the pair to recover around 150-pips intraday. Investors now look forward to the US durable goods orders data for a fresh impetus.


Gold retreats from multi-year tops, fills weekly bullish gap on positive trade headlines

Gold extended its intraday pullback from fresh multi-year tops and dropped to fresh session lows in the last hour, filling the weekly bullish gap. The US-China trade tensions escalated further.

Gold News

Forex Today: Trade wars paint markets in red, Brexit looks worse, and central banks are limited

Here is what you need to know on Monday, August 26th: The US-Sino trade war is painting global markets in the red. The US dollar is losing some ground to major currencies as yields plunge, while it gains against commodity currencies. Gold is rising and oil is falling.

Read more