The New Zealand dollar remains under pressure but finds short-term support around the 0.57–0.5750 zone. With the Fed’s recent rate cut narrowing the policy gap, and the RBNZ preparing for a leadership change, the pair trades within a descending channel. Market participants now look for fresh catalysts from the US and New Zealand data to determine the next move.
The New Zealand dollar has been under pressure in recent weeks, weighed down by
weak domestic data and policy uncertainty ahead of a change in RBNZ leadership
early next year.
Governor Hawkesby’s latest 50-basis-point rate cut aimed to cushion the economy
before handing over the reins, but it also widened the rate gap against the US dollar.
That gap has recently narrowed again after the Fed’s late-October rate cut from
4.25% to 4.00%, with future rates looking more uncertain after Fed Chair Powell’s
more neutral tone.
Technically, NZD/USD continues to trade within a descending channel, with
prices now hovering near a key support zone between 0.5700 and 0.5750.
With traders awaiting fresh signals from both economies in the coming weeks, it will be essential to track the strength of the US dollar.
NZD/USD 8H chart, November 3, 2025. Source: TradingView. Past performance is not indicative of future results.
Resistance levels (NZDUSD)
- 0.58 key pivot
- 0.59 (+/- 150 pips) resistance
- September resistance 0.60
Support levels
- Main support 0.57 to 0.5750
- 0.56840 mid-October lows
- January 2025 Support 0.5650
- Liberation Day lows around 0.55
This article is for general information purposes only, not to be considered a recommendation or financial advice. Past performance is not indicative of future results. It is not investment advice or a solution to buy or sell instruments.
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