NZD/USD remains on track to end the third day lower this week. US Dollar Index struggles to rise above 95. The NZD/USD pair dropped to its lowest level in more than a month at 0.6865 earlier in the NA session and started moving in a tight range after finding a support there. As of writing, the pair was trading at 0.6875, losing 30 pips, or 0.4%, on the day. Amid a lack of fundamental drivers that could have a significant impact on the trading action in the FX markets, the US Dollar Index fluctuated its recent range below the 95 mark. Nonetheless, the fact that the index hasn’t made a deep correction yet suggests that USD buyers are waiting for the next opportunity to present itself. At the moment, the DXY is virtually unchanged on the day at 94.66. On Wednesday, the only data from the U.S. showed that existing home sales decreased by 0.4% in May. Meanwhile, speaking at the ECB’s panel today, FOMC Governor Fed Powell reiterated that there was a strong case for gradual rate hikes. In the early Asian session on Thursday, the Statistics New Zealand is going to release the GDP growth numbers for the first quarter. Experts expect the real-GDP to grow by 0.5% and 2.7% on a quarterly and a yearly basis respectively. A positive reading is likely to help the kiwi show some resilience against the greenback. Technical outlook The pair could face the first support at 0.6850 (May 16 low) ahead of 0.6800 (psychological level) and 0.6775 (Nov. 17 low). On the upside, resistances align at 0.6940 (Jun. 19 high), 0.6990/0.7000 (50-DMA/psychological level) and 0.7060 (Jun. 6 high). The RSI indicator on the daily chart remains a little above the 30 mark, suggesting that the pair could edge lower before becoming technically oversold. 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 S&P: Supranational institution the European Union ‘AA/A-1+’ ratings affirmed; outlook stable FX Street 5 years NZD/USD remains on track to end the third day lower this week. US Dollar Index struggles to rise above 95. The NZD/USD pair dropped to its lowest level in more than a month at 0.6865 earlier in the NA session and started moving in a tight range after finding a support there. As of writing, the pair was trading at 0.6875, losing 30 pips, or 0.4%, on the day. Amid a lack of fundamental drivers that could have a significant impact on the trading action in the FX markets, the US Dollar Index fluctuated its recent range below the 95… Regulated 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.