NZD/USD starts the week on a positive note. There won’t be any macroeconomic data releases in the NA session. US Dollar Index fails to stage a recovery on Monday. The NZD/USD pair is recording modest gains on Monday boosted by the improved market sentiment and a weaker greenback. As of writing, the pair was trading at 0.6850, adding 10 pips on the day. The positive tone surrounding metal prices helped the commodity-sensitive currencies on Monday and also allowed the risk appetite to come back to markets. The Japanese Nikkei  225 ended the day 1.2% higher and major European indices are sticking to modest gains, which suggest that Wall Street could start the day higher. On the other hand, following last Friday’s losses on the mixed employment data, the greenback is having a difficult time finding demand on Monday amid a lack of macroeconomic data releases or fundamental developments that would remind investors of the Fed looking to make another rate hike in September. As of writing, the DXY was trading at 93.53, losing 0.25% on the day. The next data of significance for the pair will be the electronic card retail sales from New Zealand scheduled to be released in the early Asian session on Tuesday.  Technical levels to consider The pair could face the first resistance at 0.6860 (daily high) followed by 0.6910 (50-DMA), and 0.7000 (psychological level). On the downside, supports are located 0.6780 (Jul. 6 low), 0.6735 (Jun. 29 low) and 0.6685 (Jul. 4 low). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin Technical  Analysis: BTC/USD breaks back below descending trend line, further selling pressure could be looming FX Street 4 years NZD/USD starts the week on a positive note. There won't be any macroeconomic data releases in the NA session. US Dollar Index fails to stage a recovery on Monday. The NZD/USD pair is recording modest gains on Monday boosted by the improved market sentiment and a weaker greenback. As of writing, the pair was trading at 0.6850, adding 10 pips on the day. The positive tone surrounding metal prices helped the commodity-sensitive currencies on Monday and also allowed the risk appetite to come back to markets. The Japanese Nikkei  225 ended the day 1.2% higher and major European indices are… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.