Kiwi tries to fly off the intraday lows

FXStreet (Moscow) - NZD/USD is trying to stage a recovery after moving to intraday low at 0.8516; currently, the cross is trading at 0.8533

NZD/USD is in retreat

NZD/USD is still above 0.8500 support level. The pair finished the week at 0.8637 after falling to 0.8500 on Thursday. This week the Kiwi bears will make another attempt at the above said support level as the dynamics of NZD/USD will be influenced by global risk sentiments and China related data. Chinese HSBC flash manufacturing purchasing managers index for March showed that the largest economy is slowing down, which is a bad sign for New Zealand economy dependent on Chinese demand. Later during the day the pair is likely to move within its current intraday range as the calendar is not packed with interesting events today. From the technical point of view, the bears need to break below 0.8500 to get the control over the situation, while the bulls will feel more confident on the short-term, if they manage to overcome 0.8560 resistance. This will open the way to 0.8580.

What are today’s key NZD/USD levels?

Today's central pivot point can be found at 0.8543, with support below at 0.8517, 0.8479 and 0.8471, with resistance above at 0.8563, 0.8589 and 0.8609. Hourly Moving Averages are bearish, with the 200SMA at 0.8546 and the daily 20EMA at 0.8473. Hourly RSI is neutral at 44.