NZD/USD seeking 0.6900 in early Monday bull-run

• NZD/USD goes +50 pips in early Monday reversal.
• Overall markets remain tense, and proximity to the 200-day SMA could keep the Kiwi under wraps.

NZD/USD has clipped into 0.6890 as Kiwi bulls look to get the pair back on track and back over the 0.6900 key level, kicking off of a fresh near-term low at 0.6840 at Monday’s open.

The Antipodeans are looking for a recovery from Monday’s early sell pressure on reappearing trade war tensions and slumping trade data from China over the weekend, but Kiwi bidders appear to have grown tired of getting short-sold, propping NZD/USD up over fifty pips in the early Monday trading session.

Monday’s upside move sees the Kiwi geared to make an extended bounce from the 200-day moving average at   0.6820, a key level that the NZD/SD pairing recently broke above, and a successful support play by the 200 SMA could see the NZD set for a new bull phase, but with broader markets being constrained by wobbly equities markets and trade tensions threatening to break out once more, upside potential could remain limited.

NZD/USD Technical Levels