Free Trial

NZD/USD Trades Off After NFP

NZD

The Kiwi finished 1.5% lower at 0.6106. Lagging the majority of G10 currencies, the BBDXY finished little changed at 1,252.35 after a late rally into the close.

  • NZD/USD has opened in line with closing levels. Friday we hit 0.6102, for the lowest in
  • The pair has opened early morning trading just above below while MACD indictor has started to show decreasing green bars.
  • Key levels to watch: Initial resistance 0.6218 (Feb & March Highs), above here 0.6278 (Jan 12 highs). Initial support is now 0.6128 (20-Day EMA) a break here would open a move to 0.6083 area (May 23rd lows)
  • The US-NZ 2y is 8bps higher at -23bps
  • Option expiries: 0.6115 (NZD699m), 0.6100 (NZD410m), 0.6050 (NZD300m), upcoming strikes include 0.6200 (NZD1.53b June 12), 0.6100 (NZD990.5m June 12), 0.5915 (NZD654m June 13)
  • Looking ahead: slow session with the majority of Australia out Today.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.