FXStreet – The currency pair NZD/USD rose at the end of the Asian business on 0,6944 and then began the profits to reduce. In early New York trading, it fell to a session low of 0,6910. Most recently it was listed on 0,6917 and to 0.16 per cent in the Minus.
The main driver for today’s course development was the recovery of the American currency. The US Dollar Index started with a bullish Gap in the new trading week and continued to recover from the heavy losses of the last few weeks. After the Saga of the French elections on Sunday had gone to the end, and the Pro-Europeans Emmanuel Macron the new Prime Minister is likely to back the Federal Reserve is back in focus. Although the positive labour market data offered from the Friday the USD, no support, jumped to the increase of the interest rate expectations for June. So the probability of a rate hike in June on Monday at 87,7%.
On the other hand, the Kiwi was weighed down by the weak Performance of raw materials. The price of iron ore fell on Monday by more than 2 percent. From new Zealand tonight are no published economic data and the DXY is the sole rate is likely to remain the drivers for the Pair. The next key event for the Kiwi will take place on Wednesday night with the interest rate decision from the Reserve Bank of New Zealand.
The next supports lie at 0,6900 (psychological mark), 0,6840 (10-month Low / Deep 04. May) and 0,6800 (psychological mark). Resistors, on the other hand, 0,6975 (50-days-line), 0,7000 (psychological mark) and 0,7075 (100-day line).
** FXStreet News Editorial, FXStreet**