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New Zealand dollar edges lower as US dollar firms and oil jumps

NZD/USD trades around 0.5881, with support near 0.5879 and resistance at 0.5884 before higher levels at 0.5901.

Reported · Written up by our desk · Major Pairs

The New Zealand dollar is slipping on Monday, with NZD/USD holding near the 0.5900 area after failing to sustain a push toward multi-day highs last week, FXStreet reports.

The Kiwi is being weighed by a firm US dollar across major currencies, alongside rising oil prices and a persistent safe-haven bid tied to ongoing US-Iran tensions. FXStreet notes that the Strait of Hormuz remains shut, with West Texas Intermediate oil surging close to $81.50 per barrel and the US Dollar Index (DXY) near the 100 threshold.

Despite a modest bullish tone suggested by short-term momentum, the pair has drifted into the high-0.5800s. On the 4-hour chart, FXStreet says NZD/USD sits above the 100-period simple moving average around 0.5840, while the 20-period SMA near 0.5881 and an RSI near 52 point to steady, but not overextended, upside.

For levels to watch, FXStreet identifies near-term resistance at 0.5884, then 0.5891 and 0.5901, with higher barriers around 0.5930 and 0.5965. On the downside, immediate support is seen at 0.5879, ahead of the 100-period SMA cluster around 0.5840.

Latest closeDollar index 99.81 ▲0.2%

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