- NZD/USD is down for the third-day in-a-row, holds bearish bias.
- New Zealand Dollar among worst performers despite higher equity prices in Wall Street.
The NZD/USD pair dropped further and bottomed at 0.6332, the lowest level since October 17. During the last hour it moved off lows and as of writing trades at 0.6345, modestly lower for the day, on its way to the third consecutive slide.
The Kiwi is also lower against commodity and main European currencies despite the improvement in risk sentiment supported by optimism around US/China trade talks. Market activity will return to normal on Tuesday after today’s holiday.
The DOW JONES is up 0.42% while the NASDAQ gains 0.92%. US yields are rising further with the 10-year now at 1.86%, the highest since September 16. Yields contribute to strengthen the USD/JPY. The Japanese Yen and the Kiwi are both down across the board.
Price continues to move within a descendant short-term channel with the upper limit at 0.6355/60; a break higher will likely ease the bearish pressure. On the downside, 0.6330 (lower limit) could offer support during the American session; if it drops below the slide could gain momentum; below the next support, level might be seen at 0.6318, 0.6300 and 0.6280.
|Today last price||0.6336|
|Today Daily Change||-0.0013|
|Today Daily Change %||-0.20|
|Today daily open||0.6349|
|Previous Daily High||0.6388|
|Previous Daily Low||0.6347|
|Previous Weekly High||0.6437|
|Previous Weekly Low||0.6347|
|Previous Monthly High||0.6452|
|Previous Monthly Low||0.6249|
|Daily Fibonacci 38.2%||0.6363|
|Daily Fibonacci 61.8%||0.6373|
|Daily Pivot Point S1||0.6335|
|Daily Pivot Point S2||0.632|
|Daily Pivot Point S3||0.6293|
|Daily Pivot Point R1||0.6376|
|Daily Pivot Point R2||0.6403|
|Daily Pivot Point R3||0.6418|
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