- The dollar falls sharply after the NFP and the ISM of the services sector.
- US yield falls to multi-day lows, commodities rebound.
- NZD/USD reverses from monthly lows and trims weekly losses.
The NZD/USD pair is up 100 points from the daily low and is trading at 0.6290, with a solid bullish tone supported by the general fall in the dollar.
The dollar turned lower after the release of the non-farm payrolls report, which beat expectations. After a brief recovery, it returned to the bearish path after the ISM for the services sector for December reported a larger than expected drop.
Following these figures, US yields plummeted and the 10-year rate fell from 3.75% to 3.61%, the lowest level since December 20. The DXY pulled back sharply from 1-month highs above 105.50 to below 104.50, turning negative on the day but still positive on the week.
NZD/USD looks towards the 0.6300 zone and next resistance at 0.6310 (5 Jan high). Above, attention would be at 0.6355/60, a critical area that has capped the upside on several occasions. A consolidation above 0.6360 would open the door for more gains. On the flip side, 0.6250 is immediate support, followed by 0.6215.
technical levels
NZD/USD
Overview | |
---|---|
Last price today | 0.6269 |
Today I change daily | 0.0040 |
today’s daily variation | 0.64 |
today’s daily opening | 0.6229 |
Trends | |
---|---|
daily SMA20 | 0.6333 |
daily SMA50 | 0.62 |
daily SMA100 | 0.6038 |
daily SMA200 | 0.6228 |
levels | |
---|---|
previous daily high | 0.6341 |
previous daily low | 0.621 |
Previous Weekly High | 0.6373 |
previous weekly low | 0.6253 |
Previous Monthly High | 0.6514 |
Previous monthly minimum | 0.623 |
Fibonacci daily 38.2 | 0.626 |
Fibonacci 61.8% daily | 0.6291 |
Daily Pivot Point S1 | 0.6179 |
Daily Pivot Point S2 | 0.6129 |
Daily Pivot Point S3 | 0.6047 |
Daily Pivot Point R1 | 0.631 |
Daily Pivot Point R2 | 0.6391 |
Daily Pivot Point R3 | 0.6442 |
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.