NZD/USD trims losses as it rebounds from 11-day lows


  • 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. 

Technical outlook 

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.

NZD/USD

Overview
Today last price 0.6336
Today Daily Change -0.0013
Today Daily Change % -0.20
Today daily open 0.6349
 
Trends
Daily SMA20 0.6325
Daily SMA50 0.6343
Daily SMA100 0.6474
Daily SMA200 0.6603
 
Levels
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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