NZD/USD back into the 0.6880 level after slipping from December’s peaks

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  • The Kiwi sees refreshed downside from December’s new highs as risk aversion returns to the fold.
  • NZD data remains absent from economic calendars, keeping the pair strung up on broader market sentiment.

NZD/USD is trading back into 0.6880 after December’s early open saw the Kiwi lift into six-month highs, but a resurgence in broad-market fears surrounding trade wars is seeing risk-based assets stooping against the US Dollar, especially in the Asia-Pacific region.

New Zealand economic data have been particularly devoid recently, leaving the NZD/USD pairing to trade into general market sentiment headwinds, and despite a steady recovery from October’s lows, selling pressure remains built-in for the Kiwi, getting pulled back to the 200-day moving average at 0.6850, but a successful bounce by bidders from the key indicator could see a fresh bullish run get started.

Friday sees another round of the US NFP data dump, and Pacific investors are buckling down for the key data reading. Not content to dominate the economic calendar, the US is also the critical factor in news headlines as well, with US President Trump declaring himself a “Tariff Man” on Twitter this week, further undermining the perceived tariff truce that the US president struck with China’s Xi Jinping last weekend, and broader markets are fearing a reappearance of escalating trade tensions between the US and China much sooner than expected.

NZD/USD Technical Levels

NZD/USD

Overview:
    Today Last Price: 0.6883
    Today Daily change: 4.0 pips
    Today Daily change %: 0.0581%
    Today Daily Open: 0.6879
Trends:
    Previous Daily SMA20: 0.6829
    Previous Daily SMA50: 0.667
    Previous Daily SMA100: 0.6667
    Previous Daily SMA200: 0.686
Levels:
    Previous Daily High: 0.6904
    Previous Daily Low: 0.6856
    Previous Weekly High: 0.6887
    Previous Weekly Low: 0.6753
    Previous Monthly High: 0.6887
    Previous Monthly Low: 0.6514
    Previous Daily Fibonacci 38.2%: 0.6874
    Previous Daily Fibonacci 61.8%: 0.6885
    Previous Daily Pivot Point S1: 0.6856
    Previous Daily Pivot Point S2: 0.6832
    Previous Daily Pivot Point S3: 0.6808
    Previous Daily Pivot Point R1: 0.6903
    Previous Daily Pivot Point R2: 0.6927
    Previous Daily Pivot Point R3: 0.6951

 

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