The NZD/USD currency pair experienced some ups and downs on Thursday. The Reserve Bank of New Zealand’s (RBNZ) aggressive approach helped boost the Kiwi, yet US dollar strength limited any significant gains. At the moment, it’s trading around 0.5842 after reaching a one-month peak earlier this week.
After two days of decline due to disappointing U.S. inflation numbers, the dollar seems to be regaining some strength. The U.S. Dollar Index (DXY), which reflects the dollar against a mix of six major currencies, is sitting at about 100.70. It had dropped to 100.35 on Wednesday, marking its lowest point since June 18.
Regarding technical indicators, NZD/USD sits above the 50-day, 100-day, and 200-day simple moving averages (SMAs), specifically between 0.5807 and 0.5831, which paints a positive short-term picture.
The Relative Strength Index (RSI) stands at 63, indicating bullish momentum without being overbought just yet. Additionally, the Moving Average Convergence Divergence (MACD) is above zero, suggesting that buyers still have the upper hand.
Looking at support levels, immediate backing is provided by the 100-day SMA at 0.5831, followed closely by the 200-day SMA at 0.5819 and the 50-day SMA at 0.5807. If the pair drops below these, horizontal support around 0.5770 and 0.5700 could become relevant.
On the higher end, the first resistance is around the 0.5870 mark. If the pair can consistently break through this level, it might lead to further gains.
New Zealand dollar price today
The following table illustrates the percentage change of the New Zealand Dollar (NZD) against other major currencies today. Interestingly, the New Zealand dollar showed the strongest performance against the British pound.
| USD | EUR | GBP | JPY | CAD | Australian dollar | New Zealand dollar | Swiss franc | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.18% | 0.46% | 0.15% | -0.03% | 0.02% | 0.10% | 0.34% | |
| EUR | -0.18% | 0.28% | -0.02% | -0.19% | -0.08% | -0.06% | 0.16% | |
| GBP | -0.46% | -0.28% | -0.28% | -0.46% | -0.37% | -0.33% | -0.10% | |
| JPY | -0.15% | 0.02% | 0.28% | -0.19% | -0.05% | -0.04% | 0.19% | |
| CAD | 0.03% | 0.19% | 0.46% | 0.19% | 0.13% | 0.15% | 0.37% | |
| Aussie dollar | -0.02% | 0.08% | 0.37% | 0.05% | -0.13% | 0.04% | 0.23% | |
| New Zealand dollar | -0.10% | 0.06% | 0.33% | 0.04% | -0.15% | -0.04% | 0.21% | |
| Swiss franc | -0.34% | -0.16% | 0.10% | -0.19% | -0.37% | -0.23% | -0.21% |
The heat map showcases percentage changes between major currencies. The left column represents the base currency, while the top row indicates the quote currency. For example, selecting the New Zealand dollar from the left and moving along the row to the US dollar displays the percentage change for NZD against USD.
