NZD/USD to 0.6160, eyes April highs

Kiwi extends gains versus US dollar during the American session.
NZD/USD could post the highest daily close since mid-March.

Matías Salord FXStreet

The NZD/USD is rising for the third day in a row on the back of an improvement in risk sentiment. Among G10 currencies, the kiwi is outperforming. Recently the pair climbed to 0.6157, reaching the highest level in a week. It is hovering around 0.6140, consolidation gains and with a bullish bias.

A weaker US dollar has been the key driver of today’s price action. The greenback continues to slide as Wall Street resumes the upside. The Dow Jones is rising 1.60% and the Nasdaq 2.10%. Emerging market and commodity currencies area sharply higher, extending the weekly rally supported by risk appetite.

The kiwi rose across the board during the Asian session. Reserve Bank of New Zealand Governor Orr mentioned that negative rates are not on the agenda now, but could be an option “a lot later”.

NZD/USD near critical resistance

The pair peaked at 0.6157 and pulled back. The 0.6160/70 zone is a key resistance that if broken should clear the way to more gains. The next resistance might be seen at 0.6200 followed by 0.6225 (100-day SMA).

NZD/USD

Overview
Today last price	0.6138
Today Daily Change	0.0061
Today Daily Change %	1.00
Today daily open	0.6077

Trends
Daily SMA20	0.6047
Daily SMA50	0.5996
Daily SMA100	0.6237
Daily SMA200	0.6326

Levels
Previous Daily High	0.612
Previous Daily Low	0.6032
Previous Weekly High	0.6157
Previous Weekly Low	0.5921
Previous Monthly High	0.6176
Previous Monthly Low	0.5843
Daily Fibonacci 38.2%	0.6086
Daily Fibonacci 61.8%	0.6066
Daily Pivot Point S1	0.6032
Daily Pivot Point S2	0.5988
Daily Pivot Point S3	0.5944
Daily Pivot Point R1	0.612
Daily Pivot Point R2	0.6164
Daily Pivot Point R3	0.6208

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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