NZD/USD stays pressured beyond 0.6400 after New Zealand Total Filled Jobs

  • NZD/USD keeps the bounce off 0.6408 while ignoring downside Total Filled Jobs for May.
  • The risk-off mood continues to exert downside pressure on the Antipodeans.
  • Virus woes firing on all cylinders while trade wars and geopolitical tension also weigh on the market sentiment.

NZD/USD stays depressed around 0.6415 amid the initial Asian trading session on Monday. While its early-day U-turn from 0.6402 continues to portray the pair’s ability to stay beyond 21-day EMA, the quote prints two-day losing streak by the press time.

New Zealand’s May month Total Filled Jobs softened to 1.7 million versus 2.16 million prior readouts. The data failed to offer any major negative to the NZD/USD prices, the quote rose from 0.6413 to 0.6418 after data. However, broad moves suggest the downbeat trading performance considering the fears of coronavirus (COVID-19).

Read: New Zealand Total Filled Jobs: 1.7M vs 2.16M previous, Kiwi unchanged

In addition to above 5,000 cases for the last seven days from Texas, calling of Wuhan-like lockdowns in China’s Anxin county renew fears that the pandemic wave 2.0 is brewing strongly. Global COVID-19 death toll nears half a million whereas 14-day average cases in California suggest a modestly upward trend, as per Reuters. Amid the virus outbreak, various campaigns for the US Presidential elections have been either called off or delayed, which in turn keeps the market mood sober.

Other than the deadly disease, the India-China geopolitical tension and trade wars among the key global economies also weigh on the market’s risk-tone sentiment. Border conditions between India and China have been worsening off-late following the Galawan tussle. On the other hand, US threats to levy tariffs on the UK, European Union and Canada, not to forget the America-Iran tension, keep the trade war fears of the spotlight.

While portraying the risks, Wall Street and the US 10-year treasury yields remained on the back foot on Friday. Further, S&P 500 Futures keeps the risk-tone heavy while flashing near 0.50% losses to 2,992 as we write.

Considering the lack of major data/events up for publishing during today’s Asian session, pair traders will keep eyes on the virus/trade updates, not to ignore geopolitics, for near-term direction. During the US session, the Dallas Fed Manufacturing Business Index and Pending Home Sales will entertain the market players.

Technical analysis

Friday’s bearish spinning top candlestick formation on the daily chart above 21-day EMA portrays the traders’ indecision. As a result, sellers are waiting for a clear break below 0.6400. Alternatively, the monthly falling trend line, at 0.6505 now, becomes the key resistance to watch during the pair’s pullback moves.

Additional important levels

Today last price 0.6416
Today Daily Change -6 pips
Today Daily Change % -0.09%
Today daily open 0.6422
Daily SMA20 0.6449
Daily SMA50 0.6223
Daily SMA100 0.6177
Daily SMA200 0.6325
Previous Daily High 0.6451
Previous Daily Low 0.6402
Previous Weekly High 0.6534
Previous Weekly Low 0.6383
Previous Monthly High 0.6241
Previous Monthly Low 0.5921
Daily Fibonacci 38.2% 0.6421
Daily Fibonacci 61.8% 0.6432
Daily Pivot Point S1 0.6399
Daily Pivot Point S2 0.6376
Daily Pivot Point S3 0.635
Daily Pivot Point R1 0.6448
Daily Pivot Point R2 0.6474
Daily Pivot Point R3 0.6497



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