NZD/USD recovers from 2018 lows. GDP growth loses momentum in New Zealand. DXY reverses course in the NA session and slumps to mid-94s. The NZD/USD pair plummeted to its worst level since December of 2017 at 0.6825 during the early trading hours of the Asain session on Thursday but was able to pare all of its losses in the NA session. As of writing, the pair was trading at 0.6875, adding 0.17% on the day. Kiwi came under a broad-based selling pressure after the data from New Zealand showed that the GDP growth in the first quarter of the year eased to 0.5% on a quarterly basis from 0.6% in the previous quarter. On a yearly basis, the GDP grew by 2.7%. Details of the report showed that the household spending was unchanged in Q1. In the second half of the day, the greenback started losing its strength against its rivals as the weak market sentiment ramped up the demand for safe-havens and caused T-bond yields to plummet in the United States. With this latest drop, the DXY failed to stay above the 95 mark for the third straight day and was last seen at 94.55, where it was down 0.23% on the day. The next catalyst for the pair could be the annual visitor arrivals data for May from New Zealand. In April, the number of tourists visiting the country contracted by 9% and a rebound in this number could help the kiwi continue to recover its weekly losses. Technical outlook On the upside, resistances align at 0.6900 (psychological level), 0.6940 (Jun. 19 high) and 0.6990/0.7000 (50-DMA/psychological level). Supports could be seen at 0.6825 (daily low), 0.6800 (psychological level) and 0.6775 (Nov. 17 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 USD/CAD Technical Analysis: Greenback bulls almost to 1.3350 target FX Street 5 years NZD/USD recovers from 2018 lows. GDP growth loses momentum in New Zealand. DXY reverses course in the NA session and slumps to mid-94s. The NZD/USD pair plummeted to its worst level since December of 2017 at 0.6825 during the early trading hours of the Asain session on Thursday but was able to pare all of its losses in the NA session. As of writing, the pair was trading at 0.6875, adding 0.17% on the day. Kiwi came under a broad-based selling pressure after the data from New Zealand showed that the GDP growth in the first quarter of the year… 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.