The risk-off tone in equities is likely weighing over NZD/USD. Technical charts are reporting a death cross, a major bearish indicator. NZD/USD is flashing red amid risk-off tone in Asian equities. The currency pair is currently trading at 0.6315, representing a 0.30% loss on the day, having hit a high of 0.6359 in early Asia. Meanwhile, Japan’s Nikkei index and the Shanghai Composite index are down 1% and 0.7% respectively. South Korea’s Kospi is also flashing red, while shares in Hong Kong are flat-lined and those in Australia are reporting a 1.68% gain. Asian equities are extending Monday’s slide, which was fueled by oil price slide and coronavirus fears and the risk-off tone is likely weighing over the New Zealand dollar. Traders, however, should note that the futures on the S&P 500 are currently reporting over 2% gains. As a result, the sentiment could turn pro-risk during the day ahead, helping the Kiwi pick up a bid. China PPI deflation China’s Producer Price Inflation (PPI) fell back into deflation in February on virus fears.=, the official data released at 01:30 GMT showed. The inflation number came in at -0.4% versus expectations for -0.3% and may have added to bearish pressures around the NZD. Death cross The 50-day average is crossing over below the 200-day average. That death cross is widely considered a sign of a long-term bearish market. In reality, however, the death cross is based on backward-looking averages and lags prices. Technical levels 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 Ethereum Price Analysis: ETH/USD tentatively stable at $200, risks breakdown to $190 FX Street 3 years The risk-off tone in equities is likely weighing over NZD/USD. Technical charts are reporting a death cross, a major bearish indicator. NZD/USD is flashing red amid risk-off tone in Asian equities. The currency pair is currently trading at 0.6315, representing a 0.30% loss on the day, having hit a high of 0.6359 in early Asia. Meanwhile, Japan's Nikkei index and the Shanghai Composite index are down 1% and 0.7% respectively. South Korea's Kospi is also flashing red, while shares in Hong Kong are flat-lined and those in Australia are reporting a 1.68% gain. Asian equities are extending Monday's slide, which… 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.