The NZD/USD pair is trading with a negative bias near the 0.5860 area on Friday, April 24, as the US Dollar (USD) remains supported despite a slight loss of momentum in the broader index. The greenback continues to benefit from a combination of robust economic data and ongoing geopolitical uncertainty.
Weekly initial jobless claims rose to 215,000 from 212,000, suggesting the U.S. labor market remains solid. At the same time, S&P’s global PMIs surprised positively, with manufacturing at 52.1 and services at 53.7, underlining the sustained expansion of business activity. This mix of data pushed US yields higher and increased demand for the USD.
Meanwhile, geopolitical developments remain an important driver of sentiment. Reports denying Iranian Parliament Speaker Mohammad-Bagher Ghalibaf’s resignation from a key negotiating role added to uncertainty surrounding Middle East diplomacy.
Short-Term Technical Analysis:
On the four-hour chart, NZD/USD is trading at 0.5858, with a slight bearish short-term bias. Momentum has waned, with the Relative Strength Index (RSI) at around 37, suggesting that selling pressure prevails but still remains far from fully oversold territory.
On the upside, initial resistance emerges at 0.5871, followed by the previous intraday ceiling at 0.5879, with further hurdles at 0.5907 and 0.5930 before a stronger barrier emerges at 0.5965. On the other hand, immediate support is seen just below the market at 0.5847, ahead of 0.5840 and then the reinforcing technical floor of the 100-period SMA at around 0.5833; A clear break below this group would likely pave the way for bigger losses.
(The technical analysis of this story was written using an AI tool.)
