NZDUSD briefly fell to lowest levels since May 2020 during today's session, as hawkish FED and new covid lockdowns in China weighed on risk-sensitive currencies. At the same time RBNZ Gov. Orr recently stated that the New Zealand economy is unlikely to experience a technical recession following release of the second quarter GDP figures, which may herald a more dovish approach. Pair may experience higher volatility after the release of the NFP report at 1:30 pm BST. From a technical point of view, the pair is testing a major support zone around 0.6065, which is marked with previous price reactions and lower limit of the 1:1 structure. In case the aforementioned support zone is broken, downward move may deepen towards the lower limit of the descending channel.
NZDUSD, D1 interval. Source: xStation5
Daily Summary: Yields at their highest since 2002, yet Wall Street is still rising🚨
BREAKING: U.S. ISM PMI for services comes in below expectations🚨
💶Chart of the Day: EURUSD at Lowest Since May 2025 Amid French Fiscal Crisis
Morning Briefing: Dollar gains, oil falls. EURUSD at multi-month lows