NZD/USD falls further below 0.6200, to four-week lows

  • US dollar remains strong, DXY gains 0.45%.
  • The US manufacturing empire rebounds in March.
  • NZD/USD breaks previous lows and fixes at the 200-day SMA.

The pair NZD/USD it falls for the second day in a row and hits new lows after the release of the US data, settling at 0.6175, the lowest level in four weeks. The US dollar generally gained momentum and resumed its bullish path.

The dollar continues to advance after the publication of US data

Data released on Monday showed an unexpected bounce from -24.60 to 10.8, against expectations of -18.0. The numbers boosted the US dollar further, while the kiwi lagged behind again.

Earlier on Monday, data from New Zealand showed a 0.8% rise in the Food Price Index for March and a modest decline in the Business NZ PSI for March to 54.4 from 55.8. This week’s key report in New Zealand will be first quarter inflation early on Thursday.

The NZD/USD pair is trading at 0.6175, its lowest level since March 22. The pair remains below April lows and looks vulnerable near the 200 SMA at 0.6160.

technical levels

NZD/USD

Overview
Last price today 0.6184
daily change today -0.0021
today’s daily variation -0.34
today’s daily opening 0.6205
Trends
daily SMA20 0.6245
daily SMA50 0.6237
daily SMA100 0.6303
daily SMA200 0.6161
levels
previous daily high 0.6315
previous daily low 0.6195
Previous Weekly High 0.6316
previous weekly low 0.6169
Previous Monthly High 0.6298
Previous monthly minimum 0.6084
Fibonacci daily 38.2 0.6241
Fibonacci 61.8% daily 0.6269
Daily Pivot Point S1 0.6162
Daily Pivot Point S2 0.6118
Daily Pivot Point S3 0.6042
Daily Pivot Point R1 0.6282
Daily Pivot Point R2 0.6358
Daily Pivot Point R3 0.6402

Source: Fx Street

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