NZD/USD tumbles over 0.50% towards 0.6950 on report of a covid case in Auckland

Dhwani Mehta FXStreet

NZD/USD runs into fresh offers and loses over 50-pips after New Zealand authorities announced that they've found one case of community COVID-19 spread in Auckland.

New Zealand has relative success in combating the covid spread when compared to the rest of the world. Although the spread of the Delta covid variant appears to be reaching the South Pacific Island nation, despite the closure of the borders still in place.

The report seems to have poured cold water on expectations of a 50 bps RBNZ rate hike on Wednesday, weighing heavily on the kiwi dollar.

At the time of writing, NZD/USD is dropping 0.74% on the day, hitting the lowest levels in two weeks at 0.6962.

Read: RBNZ set to hike OCR by 25bps to 0.50% on Wednesday – Reuters poll

NZD/USD: 15-minutes chart

NZD/USD technical levels to watch

NZD/USD

Overview
Today last price	0.6971
Today Daily Change	-0.0048
Today Daily Change %	-0.68
Today daily open	0.7021

Trends
Daily SMA20	0.6996
Daily SMA50	0.7019
Daily SMA100	0.7096
Daily SMA200	0.7112

Levels
Previous Daily High	0.7044
Previous Daily Low	0.701
Previous Weekly High	0.7063
Previous Weekly Low	0.6969
Previous Monthly High	0.7106
Previous Monthly Low	0.6881
Daily Fibonacci 38.2%	0.7023
Daily Fibonacci 61.8%	0.7031
Daily Pivot Point S1	0.7006
Daily Pivot Point S2	0.6991
Daily Pivot Point S3	0.6972
Daily Pivot Point R1	0.704
Daily Pivot Point R2	0.7059
Daily Pivot Point R3	0.7075

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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