NZD/USD looking to carry a bounce from 0.6700

• Near-term Kiwi traders looking to regain the downside of yesterday’s peaks.
• Data is thin this week for the Kiwi, but plenty of US data will be reflected in USD pairs.

The NZD/USD is taking a bounce from the 0.6700 level into 0.6725 in early Tuesday action, but a rough chop on the hourly candles sees the Kiwi  continuing to drift from last week’s peak of 0.6816.

Tuesday sees little of note on the economic calendar for the Kiwi, though late Monday did see New Zealand’s Food Price Index for October, which printed at -0.6% for the m/m reading, contracting somewhat from the previous month’s reading of -0.1%. Later on today, a duo of speeches from the US Federal Reserve will be dropping on markets, but only one of the speakers, Leal Brainard, is a voting member of the FOMC, and his words could be watched closely by Greenback traders keeping close tabs on the perky US Fed.

November has been a good run for the NZD/USD, continuing a string bump upwards from October’s bottoms near 0.6425, and a resurgence in broad-market Dollar bidding sees the NZD/USD maintaining a healthy grip on the longer timeframes, with Daily candlesticks pinned well above the 50-day moving average near 0.6620.

NZD/USD Technical Levels